$5,801

Avg. Federal Grant

$7,497

Avg. Federal Loan

$3,966,728

Total Aid Awarded

Paine College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

97%

Total Aid Amount Average Total Aid Awarded per year.

$3.967M

Financial Aid Official Website

https://www.paine.edu/web/admission/financial-aid

Interestingly, almost all of the students at PC receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $3,075,537 in a year. The total percentage of candidates applying to Paine College who receive the Federal Grant is 93%. On the other hand, 100% of the candidates get the Student Grant, 96% receive the Institution Grant, and 93% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,903, while the same comes to $1,429 for State Grant receivers and $7,654 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $5,359. 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. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At PC, an estimated number of 91% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

89%

State Grant Aid

71%

Institution Grant Aid

57%

Pell Grant

89%

Average Aid Awarded

Federal Grant Aid

$5,801

State Grant Aid

$1,138

Institution Grant Aid

$7,211

Pell Grant

$4,949

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$10,189

$30,001 - $48,000

$9,963

$48,001 - $75,000

$9,661

$75,001 - $110,000

$8,824

Over $110,000

$14,700

Student Loans for Paine College

Average Loan Amount Average Loan Amount received per year.

$10,487/Year

Students Taking Out Loans

90%

Loan Default Rate

28.5%

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