$5,412

Avg. Federal Grant

$2,669

Avg. Federal Loan

$15,619,408

Total Aid Awarded

Northern Essex Community College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

53%

Total Aid Amount Average Total Aid Awarded per year.

$15.619M

Financial Aid Official Website

www.necc.mass.edu/getting-started/financial-aid/

Such schemes include Heriberto Flores Scholarship, MASSGrant Program, and New England Regional Student Program. It is interesting to note that, every year, around 79% of students at NECC receive some kind of financial aid, while the total amount of assistance/loans provided is $4,884,305. More information regarding the financial assistance schemes can be accessed on NECC’s official financial aid page at http://www.necc.mass.edu/getting-started/financial-aid/. At NECC, the total percentage of applicants who receive the Federal Grant stands at 52%. Meanwhile, 62% of the applicants receive the Student Grant and 8% are awarded the Institution Grant, while 52% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,504, the State Grant receivers and Institution Grant beneficiaries get $1,169 and $618, respectively. And, for the Pell Grant awardees, the average aid amount is $4,838. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Northern Essex Community College, the percentage of candidates who opt to avail of student loans is around 20%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

56%

State Grant Aid

52%

Institution Grant Aid

10%

Pell Grant

56%

Average Aid Awarded

Federal Grant Aid

$5,412

State Grant Aid

$987

Institution Grant Aid

$577

Pell Grant

$5,309

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,566

$30,001 - $48,000

$5,628

$48,001 - $75,000

$2,899

$75,001 - $110,000

$356

Over $110,000

$282

Student Loans for Northern Essex Community College

Average Loan Amount Average Loan Amount received per year.

$2,761/Year

Students Taking Out Loans

30%

Loan Default Rate

13.4%

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