$4,494

Avg. Federal Grant

$4,055

Avg. Federal Loan

$4,519,714

Total Aid Awarded

North Central Michigan College (NCMC) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

55%

Total Aid Amount Average Total Aid Awarded per year.

$4.520M

Financial Aid Official Website

www.ncmich.edu

As many as 81% of the students at NCMC get some sort of financial aid, and the total amount of assistance/loans provided is more than $1,120,427 in a year. At NCMC, the total percentage of applicants who receive the Federal Grant stands at 55%. In comparison, 75% of the students are awarded the Student Grant, 31% get the Institution Grant, and 55% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,367, the State Grant receivers and Institution Grant beneficiaries get $3,929 and $3,170, respectively. And, for the Pell Grant awardees, the average aid amount is $3,274. 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. 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 18% of the applicants to North Central Michigan College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

57%

State Grant Aid

32%

Institution Grant Aid

31%

Pell Grant

57%

Average Aid Awarded

Federal Grant Aid

$4,494

State Grant Aid

$3,895

Institution Grant Aid

$2,442

Pell Grant

$4,462

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$7,380

$30,001 - $48,000

$7,860

$48,001 - $75,000

$4,943

$75,001 - $110,000

$584

Over $110,000

$1,667

Student Loans for North Central Michigan College (NCMC)

Average Loan Amount Average Loan Amount received per year.

$4,281/Year

Students Taking Out Loans

19%

Loan Default Rate

15.8%