$5,353

Avg. Federal Grant

$3,511

Avg. Federal Loan

$25,481,597

Total Aid Awarded

Mclennan Community College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

58%

Total Aid Amount Average Total Aid Awarded per year.

$25.482M

Financial Aid Official Website

www.mclennan.edu/financial-aid/

It is interesting to note that, every year, around 88% of students at MCC receive some kind of financial aid, while the total amount of assistance/loans provided is $10,732,727. Notably, a total of 62% of the applicants to McLennan Community College receive the Federal Grant every year. On the other hand, 81% of the candidates get the Student Grant, 29% receive the Institution Grant, and 62% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,490, and the same stands at $2,437 for State Grant awardees and $2,952 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $5,151. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 38% of the applicants to McLennan Community College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

63%

State Grant Aid

30%

Institution Grant Aid

25%

Pell Grant

62%

Average Aid Awarded

Federal Grant Aid

$5,353

State Grant Aid

$1,950

Institution Grant Aid

$3,155

Pell Grant

$5,321

McLennan Community College offers various financial aid options to students. We have accumulated the data and broken it down into simple structures to help you to get an overview of what financial aid option is most suitable for you when it comes to choosing one option or applying for financial assistance to pursue an education at McLennan Community College.

  • Almost 63% of the students receive federal Grants which add up to a normal of around $5,353.

  • Around 52% of students receive Pell Grant aid, with an average of $5,321.

  • Under State grant, approximately 30% of the student receives it, which amounts to an average of $1,950.

  • Roughly, 25% of the students are eligible for the institutional grant, which amounts to an average of $3,155.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,813

$30,001 - $48,000

$6,378

$48,001 - $75,000

$4,500

$75,001 - $110,000

$1,281

Over $110,000

$5,301

The financial aid breakdown based on family income gives a clear idea about what students can expect to form the financial assistance program according to their family income from McLennan Community College. We provide you the well-structured data according to the five annual income brackets with their respective average financial aid. Students can expect to see the variation in the awarded aid amount as awarded aid is based on the income calculated on FAFSA.

  • If the student’s family income range falls under $30,000, then students can get an average aid amount of $6,813.

  • In case student annual income is between the range of $30,001 and $48,000, the amount up to which student may get financial aid is approximately $6,378.

  • For a student, family income bracket of $48,001 to $75,000, the student can get the aid of $4,500.

  • If student annual income lies between $75,001 and $110,000 the average financial aid goes down to $1,281.

  • The student whose income ranges between $110,000 and above, they get the average financial aid amount of $1,334.

Student Loans for Mclennan Community College

Average Loan Amount Average Loan Amount received per year.

$3,677/Year

Students Taking Out Loans

31%

Loan Default Rate

16.3%