$4,476

Avg. Federal Grant

$4,813

Avg. Federal Loan

$1,805,941

Total Aid Awarded

Northeast Catholic College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

100%

Total Aid Amount Average Total Aid Awarded per year.

$1.806M

Financial Aid Official Website

www.northeastcatholic.edu

It is interesting to note that almost every student at MC receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $348,984. The total percentage of candidates applying to Magdalen College who receive the Federal Grant is 54%. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 54% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,234, the State Grant receivers and Institution Grant beneficiaries get $1,000 and $20,101, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,549. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. 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 MC, an estimated number of 63% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

60%

State Grant Aid

N/A

Institution Grant Aid

100%

Pell Grant

60%

Average Aid Awarded

Federal Grant Aid

$4,476

State Grant Aid

N/A

Institution Grant Aid

$19,829

Pell Grant

$4,476

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$25,878

$30,001 - $48,000

$24,770

$48,001 - $75,000

$25,463

$75,001 - $110,000

$22,795

Over $110,000

N/A

Student Loans for Northeast Catholic College

Average Loan Amount Average Loan Amount received per year.

$5,741/Year

Students Taking Out Loans

53%

Loan Default Rate

17.2%

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