$4,712

Avg. Federal Grant

$3,232

Avg. Federal Loan

$4,818,186

Total Aid Awarded

Mid-State Technical College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

44%

Total Aid Amount Average Total Aid Awarded per year.

$4.818M

Financial Aid Official Website

www.mstc.edu/financial-aid

As many as 64% of the students at MSTC get some sort of financial aid, and the total amount of assistance/loans provided is more than $2,870,862 in a year. For additional information about financial assistance schemes, one can head over to MSTC’s financial aid page at http://www.mstc.edu/financial-aid. The total percentage of candidates applying to Mid-State Technical College who receive the Federal Grant is 44%. In comparison, 49% of the students are awarded the Student Grant, 7% get the Institution Grant, and 44% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,567, the State Grant receivers and Institution Grant beneficiaries get $868 and $756, respectively. On the other hand, the average aid received by the Pell Grant awardees is $3,547. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At MSTC, an estimated number of 33% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

61%

State Grant Aid

46%

Institution Grant Aid

8%

Pell Grant

61%

Average Aid Awarded

Federal Grant Aid

$4,712

State Grant Aid

$1,006

Institution Grant Aid

$1,080

Pell Grant

$4,629

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$5,696

$30,001 - $48,000

$5,110

$48,001 - $75,000

$2,662

$75,001 - $110,000

N/A

Over $110,000

N/A

Student Loans for Mid-State Technical College

Average Loan Amount Average Loan Amount received per year.

$3,232/Year

Students Taking Out Loans

49%

Loan Default Rate

17.1%