$4,627

Avg. Federal Grant

$5,527

Avg. Federal Loan

$16,826,883

Total Aid Awarded

Otis College of Art and Design Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

81%

Total Aid Amount Average Total Aid Awarded per year.

$16.827M

Financial Aid Official Website

www.otis.edu/finaid

Among them are scholarship programs such as AWA Scholarship Awards, CCNMA Scholarship, Cal Grant A, and Cal Grant B. Notably, 90% of the students at Otis College of Art and Design get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $3,724,140. More information regarding the financial assistance schemes can be accessed on OCAD’s official financial aid page at http://www.otis.edu/finaid. The total percentage of candidates applying to Otis College of Art and Design who receive the Federal Grant is 31%. Meanwhile, 90% of the applicants receive the Student Grant and 89% are awarded the Institution Grant, while 30% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,919, and the same stands at $7,856 for State Grant awardees and $15,294 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $5,015. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $21,488 per year. The average aid amount stands at $24,514 for an annual family income between $30,001 and $48,000. This amount comes to $19,096 for those who fall under the $48,001-$75,000 family income bracket. On the other hand, the average federal aid stands at $13,747 for those with an annual family income between $75,001 and $110,000, and at $14,210 for an income more than $110,000. 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. Candidates are also required to repay these loans within a given period. At Otis College of Art and Design, the percentage of candidates who opt to avail of student loans is around 31%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

36%

State Grant Aid

21%

Institution Grant Aid

75%

Pell Grant

35%

Average Aid Awarded

Federal Grant Aid

$4,627

State Grant Aid

$6,561

Institution Grant Aid

$14,074

Pell Grant

$4,577

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$23,701

$30,001 - $48,000

$26,378

$48,001 - $75,000

$17,412

$75,001 - $110,000

$14,713

Over $110,000

$13,739

Student Loans for Otis College of Art and Design

Average Loan Amount Average Loan Amount received per year.

$7,902/Year

Students Taking Out Loans

50%

Loan Default Rate

4.5%

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