McPherson College Financial Aid and Scholarships
Students Receiving Aid
93%
Total Aid Amount
$11.904M
Financial Aid Official Website
www.mcpherson.edu/admissions/financial-aid/
Among them are scholarship programs such as Albert M. Lappin Scholarship, Hansen Leaders of Tomorrow, Hansen Scholar Award, and Hansen Student Scholarship. It is interesting to note that almost every student at MC receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $3,665,225. At MC, the total percentage of applicants who receive the Federal Grant stands at 39%. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 39% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,362, while the same comes to $2,826 for State Grant receivers and $16,185 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,502. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. At MC, an estimated number of 74% of the applicants choose to go for student loans.
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