$4,749

Avg. Federal Grant

$4,659

Avg. Federal Loan

$10,377,270

Total Aid Awarded

Reading Area Community College (RACC) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

61%

Total Aid Amount Average Total Aid Awarded per year.

$10.377M

Financial Aid Official Website

https://www.racc.edu/admissions/financial-aid

As many as 83% of the students at RACC get some sort of financial aid, and the total amount of assistance/loans provided is more than $7,766,379 in a year. For additional information about financial assistance schemes, one can head over to RACC’s financial aid page at https://www.racc.edu/admissions/financial-aid. At RACC, the total percentage of applicants who receive the Federal Grant stands at 63%. On the other hand, 83% of the candidates get the Student Grant, 21% receive the Institution Grant, and 63% get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,961, the State Grant receivers and Institution Grant beneficiaries get $1,415 and $2,679, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,762. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. However, student loans attract a certain rate of interest at which the funds are borrowed. Candidates are also required to repay these loans within a given period. Every year, around 32% of the applicants to Reading Area Community College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

69%

State Grant Aid

38%

Institution Grant Aid

20%

Pell Grant

68%

Average Aid Awarded

Federal Grant Aid

$4,749

State Grant Aid

$1,358

Institution Grant Aid

$2,427

Pell Grant

$4,723

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$5,104

$30,001 - $48,000

$4,688

$48,001 - $75,000

$2,183

$75,001 - $110,000

N/A

Over $110,000

N/A

Student Loans for Reading Area Community College (RACC)

Average Loan Amount Average Loan Amount received per year.

$4,659/Year

Students Taking Out Loans

40%

Loan Default Rate

18.8%

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