Ramapo College Of New Jersey Financial Aid and Scholarships
Students Receiving Aid
44%
Total Aid Amount
$25.135M
Financial Aid Official Website
www.ramapo.edu/finaid/
As many as 89% of the students at RCNJ get some sort of financial aid, and the total amount of assistance/loans provided is more than $21,033,932 in a year. For additional information about financial assistance schemes, one can head over to RCNJ’s financial aid page at http://www.ramapo.edu/finaid/. Notably, a total of 30% of the applicants to Ramapo College of New Jersey receive the Federal Grant every year. In comparison, 54% of the students are awarded the Student Grant, 37% get the Institution Grant, and 30% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,254, and the same stands at $6,353 for State Grant awardees and $7,908 for Institution Grant recipients. And, for the Pell Grant awardees, the average aid amount is $4,826. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 77% of the applicants to Ramapo College of New Jersey opt for student loans.
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