$5,292

Avg. Federal Grant

$4,681

Avg. Federal Loan

$17,717,351

Total Aid Awarded

North Lake College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

43%

Total Aid Amount Average Total Aid Awarded per year.

$17.717M

Financial Aid Official Website

www.northlakecollege.edu/pc/fa/pages/fa-offices.aspx

Notably, 61% of the students at North Lake College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $5,251,615. Notably, a total of 46% of the applicants to North Lake College receive the Federal Grant every year. On the other hand, 54% of the candidates get the Student Grant, 5% receive the Institution Grant, and 46% get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,729, the State Grant receivers and Institution Grant beneficiaries get $1,606 and $1,983, respectively. And, for the Pell Grant awardees, the average aid amount is $5,091. 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. At NLC, an estimated number of 11% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

35%

State Grant Aid

18%

Institution Grant Aid

4%

Pell Grant

34%

Average Aid Awarded

Federal Grant Aid

$5,292

State Grant Aid

$1,878

Institution Grant Aid

$1,410

Pell Grant

$5,309

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,309

$30,001 - $48,000

$4,933

$48,001 - $75,000

$3,062

$75,001 - $110,000

$1,564

Over $110,000

$2,885

Student Loans for North Lake College

Average Loan Amount Average Loan Amount received per year.

$4,681/Year

Students Taking Out Loans

6%

Loan Default Rate

12.7%