$4,504

Avg. Federal Grant

N/A

Avg. Federal Loan

$6,233,457

Total Aid Awarded

Rend Lake College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

84%

Total Aid Amount Average Total Aid Awarded per year.

$6.233M

Financial Aid Official Website

www.rlc.edu/financial-aid

As many as 87% of the students at RLC receive some kind of financial aid, shows the latest data. More information regarding the financial assistance schemes can be accessed on RLC’s official financial aid page at http://www.rlc.edu/financial-aid. Notably, a total of 48% of the applicants to Rend Lake College receive the Federal Grant every year. Meanwhile, 74% of the applicants receive the Student Grant and 44% are awarded the Institution Grant, while 47% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,610, and the same stands at $1,614 for State Grant awardees and $2,387 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,284. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 5% of the applicants to Rend Lake College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

50%

State Grant Aid

29%

Institution Grant Aid

52%

Pell Grant

50%

Average Aid Awarded

Federal Grant Aid

$4,504

State Grant Aid

$1,368

Institution Grant Aid

$2,125

Pell Grant

$4,344

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,425

$30,001 - $48,000

$6,350

$48,001 - $75,000

$3,697

$75,001 - $110,000

$3,489

Over $110,000

$7,243

Student Loans for Rend Lake College

Average Loan Amount Average Loan Amount received per year.

$6,273/Year

Students Taking Out Loans

3%

Loan Default Rate

13.5%

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