$4,647

Avg. Federal Grant

$4,341

Avg. Federal Loan

$45,583,273

Total Aid Awarded

Santa Monica College (SMC) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

51%

Total Aid Amount Average Total Aid Awarded per year.

$45.583M

Financial Aid Official Website

www.smc.edu/EnrollmentDevelopment/FinAid/Pages/default.aspx

Students can avail of scholarships provided by the college, such as AWA Scholarship Awards, CCNMA Scholarship, Cal Grant A, and Cal Grant B, if they find educational expenses to be on the higher side. Notably, 57% of the students at Santa Monica College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $2,506,566. At SMC, the total percentage of applicants who receive the Federal Grant stands at 34%. Meanwhile, 57% of the applicants receive the Student Grant and 10% are awarded the Institution Grant, while 34% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,990, while the same comes to $2,345 for State Grant receivers and $1,108 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $3,927. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. 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 1% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

38%

State Grant Aid

51%

Institution Grant Aid

1%

Pell Grant

38%

Average Aid Awarded

Federal Grant Aid

$4,647

State Grant Aid

$2,182

Institution Grant Aid

$649

Pell Grant

$4,533

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$7,682

$30,001 - $48,000

$7,046

$48,001 - $75,000

$4,286

$75,001 - $110,000

$2,330

Over $110,000

N/A

Student Loans for Santa Monica College (SMC)

Average Loan Amount Average Loan Amount received per year.

$4,341/Year

Students Taking Out Loans

2%

Loan Default Rate

9.7%

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