$5,122

Avg. Federal Grant

$6,590

Avg. Federal Loan

$25,752,318

Total Aid Awarded

New England College (NEC) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

81%

Total Aid Amount Average Total Aid Awarded per year.

$25.752M

Financial Aid Official Website

www.nec.edu/student-financial-services

Such schemes include NEEBC Scholarship Award. Notably, 99% of the students at New England College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $11,591,358. The total percentage of candidates applying to New England College who receive the Federal Grant is 52%. In comparison, 98% of the students are awarded the Student Grant, 95% get the Institution Grant, and 52% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,269, while the same comes to $1,752 for State Grant receivers and $22,323 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,375. 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 New England College, the percentage of candidates who opt to avail of student loans is around 85%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

56%

State Grant Aid

5%

Institution Grant Aid

85%

Pell Grant

56%

Average Aid Awarded

Federal Grant Aid

$5,122

State Grant Aid

$1,547

Institution Grant Aid

$23,555

Pell Grant

$4,658

As shown in the table the breakdown includes Federal Grants, Pell Grants, state grants and institutional grants, with federal grants having the percentage contribution of 56% with an average aid amount being $5122.

Pell grants have a percentage of 56% with an average aid amount of $4658 than the State grant aid average of $1547.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$23,662

$30,001 - $48,000

$28,937

$48,001 - $75,000

$25,078

$75,001 - $110,000

$24,279

Over $110,000

$22,541

As shown in the table lower the family income higher is the amount of aid one can expect to receive. Those students who have a family income under $30,000 can expect to receive an aid amount of $22541 while those with family income over $110,000 can expect to receive an aid amount of $24279. This helps students who are coming from low-income homes to pay for their degrees.

Student Loans for New England College (NEC)

Average Loan Amount Average Loan Amount received per year.

$9,010/Year

Students Taking Out Loans

86%

Loan Default Rate

15.9%

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