$4,823

Avg. Federal Grant

$5,388

Avg. Federal Loan

$5,366,428

Total Aid Awarded

Rust College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

93%

Total Aid Amount Average Total Aid Awarded per year.

$5.366M

Financial Aid Official Website

www.rustcollege.edu/administration/financial-aid/index.html

Such schemes include Aura Neely-Gary Memorial Scholarship Fund, Critical Needs Teacher Loan/Scholarship, Mississippi Eminent Scholars Grant, and Mississippi Tuition Assistance Grant. Notably, almost all of the college students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $4,579,563. More information regarding the financial assistance schemes can be accessed on RC’s official financial aid page at http://www.rustcollege.edu/administration/financial-aid/index.html. The total percentage of candidates applying to Rust College who receive the Federal Grant is 96%. On the other hand, 100% of the candidates get the Student Grant, 55% receive the Institution Grant, and 90% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,025, while the same comes to $438 for State Grant receivers and $2,714 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,999. 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 $6,601 on average in a year. The average aid amount stands at $6,403 for an annual family income between $30,001 and $48,000. This amount comes to $2,763 for those who fall under the $48,001-$75,000 family income bracket. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. 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. At Rust College, the percentage of candidates who opt to avail of student loans is around 83%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

95%

State Grant Aid

2%

Institution Grant Aid

37%

Pell Grant

90%

Average Aid Awarded

Federal Grant Aid

$4,823

State Grant Aid

$250

Institution Grant Aid

$3,372

Pell Grant

$4,539

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,142

$30,001 - $48,000

$6,658

$48,001 - $75,000

$4,943

$75,001 - $110,000

$6,432

Over $110,000

$7,125

Student Loans for Rust College

Average Loan Amount Average Loan Amount received per year.

$5,388/Year

Students Taking Out Loans

83%

Loan Default Rate

27%

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