$4,590

Avg. Federal Grant

$5,559

Avg. Federal Loan

$24,296,430

Total Aid Awarded

Nichols College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

94%

Total Aid Amount Average Total Aid Awarded per year.

$24.296M

Financial Aid Official Website

www.nichols.edu/admissions/financial-assistance/

Among them are scholarship programs such as Heriberto Flores Scholarship, MASSGrant Program, NEEBC Scholarship Award, and Nichols College - MASSGrant. Notably, almost all of the college students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $6,329,234. More information regarding the financial assistance schemes can be accessed on NC’s official financial aid page at http://www.nichols.edu/admissions/financial-assistance/. Notably, a total of 38% of the applicants to Nichols College receive the Federal Grant every year. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 38% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,052, while the same comes to $2,215 for State Grant receivers and $20,656 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,629. 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. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $25,807 per year. The average aid amount stands at $23,415 for an annual family income between $30,001 and $48,000. This amount comes to $20,885 for those who fall under the $48,001-$75,000 family income bracket. On the other hand, the average federal aid stands at $19,006 for those with an annual family income between $75,001 and $110,000, and at $17,149 for an income more than $110,000. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Nichols College, the percentage of candidates who opt to avail of student loans is around 91%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

38%

State Grant Aid

23%

Institution Grant Aid

100%

Pell Grant

38%

Average Aid Awarded

Federal Grant Aid

$4,590

State Grant Aid

$2,332

Institution Grant Aid

$18,962

Pell Grant

$4,349

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$23,928

$30,001 - $48,000

$24,868

$48,001 - $75,000

$22,095

$75,001 - $110,000

$20,550

Over $110,000

$18,726

Student Loans for Nichols College

Average Loan Amount Average Loan Amount received per year.

$9,509/Year

Students Taking Out Loans

85%

Loan Default Rate

6.5%

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