$5,600

Avg. Federal Grant

$3,723

Avg. Federal Loan

$3,482,807

Total Aid Awarded

Olney Central College (OCC) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

87%

Total Aid Amount Average Total Aid Awarded per year.

$3.483M

Financial Aid Official Website

www.iecc.edu/financial

Among them are scholarship programs such as AMVETS Post #100 Scholarship, August & Edna Zahatko Scholarship, Grant Program for Descendants of Police, Fire, or Correctional Officers, and Illinois Incentive for Access. Interestingly, almost all of the students at OCC receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $623,854 in a year. The total percentage of candidates applying to Olney Central College who receive the Federal Grant is 50%. Meanwhile, 100% of the applicants receive the Student Grant and 72% are awarded the Institution Grant, while 50% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $6,002, the State Grant receivers and Institution Grant beneficiaries get $1,386 and $2,179, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $5,631. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for 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 OCC, an estimated number of 17% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

48%

State Grant Aid

21%

Institution Grant Aid

71%

Pell Grant

48%

Average Aid Awarded

Federal Grant Aid

$5,600

State Grant Aid

$1,469

Institution Grant Aid

$2,069

Pell Grant

$5,330

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,739

$30,001 - $48,000

$4,839

$48,001 - $75,000

$2,816

$75,001 - $110,000

$2,383

Over $110,000

N/A

Student Loans for Olney Central College (OCC)

Average Loan Amount Average Loan Amount received per year.

$3,723/Year

Students Taking Out Loans

15%

Loan Default Rate

10.7%

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