$4,956

Avg. Federal Grant

$4,200

Avg. Federal Loan

$49,774,795

Total Aid Awarded

Monroe Community College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

64%

Total Aid Amount Average Total Aid Awarded per year.

$49.775M

Financial Aid Official Website

www.monroecc.edu/tuition-aid/

Notably, 84% of the students at Monroe Community College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $18,500,868. The total percentage of candidates applying to Monroe Community College who receive the Federal Grant is 63%. In comparison, 79% of the students are awarded the Student Grant, 13% get the Institution Grant, and 63% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $5,101, the State Grant receivers and Institution Grant beneficiaries get $2,627 and $1,890, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,482. 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. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 34% of the applicants to Monroe Community College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

61%

State Grant Aid

75%

Institution Grant Aid

14%

Pell Grant

61%

Average Aid Awarded

Federal Grant Aid

$4,956

State Grant Aid

$2,730

Institution Grant Aid

$1,912

Pell Grant

$4,916

Monroe Community College financial aid includes Federal Grants, Pell Grants, State grants, and Institutional grants, with State Grants having the highest percentage contribution of 75% with the average aid amount being $2,730. An applicant might visit the official website of the institution for further information.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$9,101

$30,001 - $48,000

$7,107

$48,001 - $75,000

$3,848

$75,001 - $110,000

$1,967

Over $110,000

$274

As per the data from Monroe Community College financial aid office, lower the family income higher is the amount of financial aid one can expect to receive. For those students who have a family income under $30,000 can expect to receive an aid amount of $9,101 while those with a family income of over $110,000 can expect to receive an aid amount of $274. This ensures that the bulk of the money is flowing towards those who need it the most. The afore-mentioned table is a breakdown of the same.

Student Loans for Monroe Community College

Average Loan Amount Average Loan Amount received per year.

$4,352/Year

Students Taking Out Loans

36%

Loan Default Rate

18.6%

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