$5,107

Avg. Federal Grant

$5,200

Avg. Federal Loan

$25,135,430

Total Aid Awarded

Ramapo College Of New Jersey Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

44%

Total Aid Amount Average Total Aid Awarded per year.

$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.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

29%

State Grant Aid

27%

Institution Grant Aid

37%

Pell Grant

29%

Average Aid Awarded

Federal Grant Aid

$5,107

State Grant Aid

$6,575

Institution Grant Aid

$9,276

Pell Grant

$4,893

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$17,069

$30,001 - $48,000

$13,127

$48,001 - $75,000

$6,999

$75,001 - $110,000

$1,471

Over $110,000

$1,846

Student Loans for Ramapo College Of New Jersey

Average Loan Amount Average Loan Amount received per year.

$8,182/Year

Students Taking Out Loans

60%

Loan Default Rate

5.4%