$4,579

Avg. Federal Grant

$4,800

Avg. Federal Loan

$9,392,272

Total Aid Awarded

Northwestern Michigan College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

50%

Total Aid Amount Average Total Aid Awarded per year.

$9.392M

Financial Aid Official Website

https://www.nmc.edu/financial-aid/index.html

Among them are scholarship programs such as Arenac County Scholarship, Art and Helen Nickless Scholarship, Auburn Jaycees Education Scholarship, and Bay City Civitan/Marcella Barber Scholarship. Notably, 76% of the students at Northwestern Michigan College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $5,497,409. Notably, a total of 47% of the applicants to Northwestern Michigan College receive the Federal Grant every year. On the other hand, 59% of the candidates get the Student Grant, 24% receive the Institution Grant, and 47% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,374, while the same comes to $4,101 for State Grant receivers and $2,878 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,427. 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. Candidates are also required to repay these loans within a given period. At NMC, an estimated number of 32% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

49%

State Grant Aid

27%

Institution Grant Aid

26%

Pell Grant

47%

Average Aid Awarded

Federal Grant Aid

$4,579

State Grant Aid

$3,990

Institution Grant Aid

$2,124

Pell Grant

$4,236

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,195

$30,001 - $48,000

$6,977

$48,001 - $75,000

$3,166

$75,001 - $110,000

$1,182

Over $110,000

$278

Student Loans for Northwestern Michigan College

Average Loan Amount Average Loan Amount received per year.

$7,673/Year

Students Taking Out Loans

33%

Loan Default Rate

16.1%

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