$4,797

Avg. Federal Grant

$5,522

Avg. Federal Loan

$2,631,036

Total Aid Awarded

Mesabi Range College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

41%

Total Aid Amount Average Total Aid Awarded per year.

$2.631M

Financial Aid Official Website

www.mesabirange.edu/future-students/financial-aid

As many as 88% of the students at MRC get some sort of financial aid, and the total amount of assistance/loans provided is more than $2,083,850 in a year. One can visit MRC's financial aid page at http://www.mesabirange.edu/future-students/financial-aid for more information. The total percentage of candidates applying to Mesabi Range College who receive the Federal Grant is 66%. On the other hand, 74% of the candidates get the Student Grant, while 66% receive the Pell Grant. And, for the Pell Grant awardees, the average aid amount is $4,539. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At MRC, an estimated number of 61% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

66%

State Grant Aid

51%

Institution Grant Aid

N/A

Pell Grant

66%

Average Aid Awarded

Federal Grant Aid

$4,797

State Grant Aid

$1,423

Institution Grant Aid

N/A

Pell Grant

$4,593

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,224

$30,001 - $48,000

$6,028

$48,001 - $75,000

$3,200

$75,001 - $110,000

$379

Over $110,000

N/A

Student Loans for Mesabi Range College

Average Loan Amount Average Loan Amount received per year.

$5,588/Year

Students Taking Out Loans

61%

Loan Default Rate

21.5%

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