$4,307

Avg. Federal Grant

$5,390

Avg. Federal Loan

$5,729,275

Total Aid Awarded

Ranken Technical College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

59%

Total Aid Amount Average Total Aid Awarded per year.

$5.729M

Financial Aid Official Website

ranken.edu/tuition-and-financial-aid/financial-aid/

As many as 85% of the students at RTC get some sort of financial aid, and the total amount of assistance/loans provided is more than $6,734,227 in a year. One can visit RTC's financial aid page at http://ranken.edu/tuition-and-financial-aid/financial-aid/ for more information. Notably, a total of 47% of the applicants to Ranken Technical College receive the Federal Grant every year. In comparison, 69% of the students are awarded the Student Grant, 57% get the Institution Grant, and 47% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,737, the State Grant receivers and Institution Grant beneficiaries get $3,344 and $3,719, respectively. On the other hand, the average aid received by the Pell Grant awardees is $3,816. 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. Students whose family income per annum is less than $30,000 will receive a federal aid of $8,436 on average in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $8,754 and $7,153, respectively. On the other hand, the average federal aid stands at $4,207 for those with an annual family income between $75,001 and $110,000, and at $1,412 for an income more than $110,000. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 72% of the applicants to Ranken Technical College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

46%

State Grant Aid

23%

Institution Grant Aid

57%

Pell Grant

46%

Average Aid Awarded

Federal Grant Aid

$4,307

State Grant Aid

$3,085

Institution Grant Aid

$3,584

Pell Grant

$4,198

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$7,751

$30,001 - $48,000

$7,674

$48,001 - $75,000

$6,014

$75,001 - $110,000

$3,322

Over $110,000

$1,962

Student Loans for Ranken Technical College

Average Loan Amount Average Loan Amount received per year.

$5,529/Year

Students Taking Out Loans

66%

Loan Default Rate

5.5%

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