$4,546

Avg. Federal Grant

$5,150

Avg. Federal Loan

$16,182,641

Total Aid Awarded

Minneapolis Community And Technical College (MCTC) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

59%

Total Aid Amount Average Total Aid Awarded per year.

$16.183M

Financial Aid Official Website

www.minneapolis.edu/cost-aid/financial-aid

As many as 79% of the students at MCTC get some sort of financial aid, and the total amount of assistance/loans provided is more than $13,459,313 in a year. More information regarding the financial assistance schemes can be accessed on MCTC’s official financial aid page at http://www.minneapolis.edu/cost-aid/financial-aid. Notably, a total of 62% of the applicants to Minneapolis Community and Technical College receive the Federal Grant every year. In comparison, 70% of the students are awarded the Student Grant, 2% get the Institution Grant, and 62% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,897, and the same stands at $1,153 for State Grant awardees and $2,037 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,479. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Candidates are also required to repay these loans within a given period. At Minneapolis Community and Technical College, the percentage of candidates who opt to avail of student loans is around 23%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

67%

State Grant Aid

54%

Institution Grant Aid

2%

Pell Grant

67%

Average Aid Awarded

Federal Grant Aid

$4,546

State Grant Aid

$1,005

Institution Grant Aid

$1,570

Pell Grant

$4,441

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$5,331

$30,001 - $48,000

$4,948

$48,001 - $75,000

$3,596

$75,001 - $110,000

$535

Over $110,000

N/A

Student Loans for Minneapolis Community And Technical College (MCTC)

Average Loan Amount Average Loan Amount received per year.

$5,201/Year

Students Taking Out Loans

26%

Loan Default Rate

19.1%

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