Saint Michael's College (SMC) Financial Aid and Scholarships
Students Receiving Aid
98%
Total Aid Amount
$42.364M
Financial Aid Official Website
www.smcvt.edu/financialaid
Such schemes include Carnegie Dartlet $10,000 Scholarship, Community Service Scholarship for Multicultural Students, Denton and Ann Lyon Scholarship, and Emily Lester Vermont Opportunity Scholarship. 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 $10,213,718. One can visit SMC's financial aid page at http://www.smcvt.edu/financialaid for more information. The total percentage of candidates applying to Saint Michael's College who receive the Federal Grant is 22%. On the other hand, 100% of the candidates get the Student Grant, 100% receive the Institution Grant, and 22% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,784, while the same comes to $2,265 for State Grant receivers and $27,741 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,339. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Those with a family income below $30,000 per annum, would get an average federal aid of $34,338 in a year. The average aid amount stands at $33,516 for an annual family income between $30,001 and $48,000. This amount comes to $27,207 for those who fall under the $48,001-$75,000 family income bracket. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $26,983. And, for those with a family income of more than $110,000, the amount stands at $21,791. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At SMC, an estimated number of 68% of the applicants choose to go for student loans.
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