$4,910

Avg. Federal Grant

$6,294

Avg. Federal Loan

$19,578,065

Total Aid Awarded

Olivet College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

88%

Total Aid Amount Average Total Aid Awarded per year.

$19.578M

Financial Aid Official Website

https://www.olivetcollege.edu/admissions/tuition-financial-aid

Students can avail of scholarships provided by the college, such as Art and Helen Nickless Scholarship, Auburn Jaycees Education Scholarship, Bay City Civitan/Marcella Barber Scholarship, and Bay City Kiwanis Educational Scholarship, if they find educational expenses to be on the higher side. Notably, almost all of the college students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $5,713,255. More information regarding the financial assistance schemes can be accessed on OC’s official financial aid page at https://www.olivetcollege.edu/admissions/tuition-financial-aid. Notably, a total of 58% of the applicants to Olivet College receive the Federal Grant every year. On the other hand, 100% of the candidates get the Student Grant, 99% receive the Institution Grant, and 58% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,893, and the same stands at $2,194 for State Grant awardees and $15,003 for Institution Grant recipients. And, for the Pell Grant awardees, the average aid amount is $4,628. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Those with a family income below $30,000 per annum, would get an average federal aid of $17,770 in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $22,815 and $18,964, respectively. Those with an annual income level of $75,001-$110,000 would receive $15,284, while candidates with more than $110,000 of family income receive an average federal aid of $14,023. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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 OC, an estimated number of 87% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

56%

State Grant Aid

69%

Institution Grant Aid

100%

Pell Grant

56%

Average Aid Awarded

Federal Grant Aid

$4,910

State Grant Aid

$1,903

Institution Grant Aid

$13,950

Pell Grant

$4,694

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$20,812

$30,001 - $48,000

$20,207

$48,001 - $75,000

$20,667

$75,001 - $110,000

$18,590

Over $110,000

$19,881

Student Loans for Olivet College

Average Loan Amount Average Loan Amount received per year.

$7,742/Year

Students Taking Out Loans

88%

Loan Default Rate

12.8%

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