$4,681

Avg. Federal Grant

$4,706

Avg. Federal Loan

$40,920,550

Total Aid Awarded

Montgomery College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

46%

Total Aid Amount Average Total Aid Awarded per year.

$40.921M

Financial Aid Official Website

www.montgomerycollege.edu/finaid/

Among them are scholarship programs such as Christa McAuliffe Scholarship, Developmental Disabilities, Mental Health, Child Welfare, and Juvenile Justice Workforce Tuition Assistance Program, Edward T. Conroy Memorial Scholarship, and Graduate and Professional Scholarship. It is interesting to note that, every year, around 66% of students at MC receive some kind of financial aid, while the total amount of assistance/loans provided is $12,136,910. At MC, the total percentage of applicants who receive the Federal Grant stands at 44%. In comparison, 56% of the students are awarded the Student Grant, 39% get the Institution Grant, and 44% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,777, the State Grant receivers and Institution Grant beneficiaries get $1,509 and $1,389, respectively. And, for the Pell Grant awardees, the average aid amount is $3,647. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 11% of the applicants to Montgomery College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

46%

State Grant Aid

20%

Institution Grant Aid

42%

Pell Grant

46%

Average Aid Awarded

Federal Grant Aid

$4,681

State Grant Aid

$1,539

Institution Grant Aid

$1,417

Pell Grant

$4,623

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,589

$30,001 - $48,000

$6,055

$48,001 - $75,000

$3,794

$75,001 - $110,000

$1,450

Over $110,000

$293

Student Loans for Montgomery College

Average Loan Amount Average Loan Amount received per year.

$4,898/Year

Students Taking Out Loans

11%

Loan Default Rate

10.7%