$4,749

Avg. Federal Grant

$6,070

Avg. Federal Loan

$52,926,444

Total Aid Awarded

Roanoke College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

98%

Total Aid Amount Average Total Aid Awarded per year.

$52.926M

Financial Aid Official Website

https://www.roanoke.edu/finaid

Interestingly, almost all of the students at RC receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $8,974,580 in a year. One can visit RC's financial aid page at https://www.roanoke.edu/finaid for more information. At RC, the total percentage of applicants who receive the Federal Grant stands at 29%. On the other hand, 100% of the candidates get the Student Grant, 99% receive the Institution Grant, and 29% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,067, while the same comes to $3,270 for State Grant receivers and $29,620 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,323. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Students whose family income per annum is less than $30,000 will receive a federal aid of $34,792 on average in a year. The average aid amount stands at $34,056 for an annual family income between $30,001 and $48,000. This amount comes to $29,768 for those who fall under the $48,001-$75,000 family income bracket. On the other hand, the average federal aid stands at $27,537 for those with an annual family income between $75,001 and $110,000, and at $24,820 for an income more than $110,000. 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 72% of the applicants to Roanoke College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

24%

State Grant Aid

50%

Institution Grant Aid

99%

Pell Grant

24%

Average Aid Awarded

Federal Grant Aid

$4,749

State Grant Aid

$3,470

Institution Grant Aid

$27,738

Pell Grant

$4,553

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$37,568

$30,001 - $48,000

$35,450

$48,001 - $75,000

$34,208

$75,001 - $110,000

$31,727

Over $110,000

$28,801

Student Loans for Roanoke College

Average Loan Amount Average Loan Amount received per year.

$8,583/Year

Students Taking Out Loans

72%

Loan Default Rate

3%

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