$5,231

Avg. Federal Grant

$6,270

Avg. Federal Loan

$39,298,800

Total Aid Awarded

School of the Art Institute of Chicago (SAIC) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

87%

Total Aid Amount Average Total Aid Awarded per year.

$39.299M

Financial Aid Official Website

www.saic.edu/financialaid/

It is interesting to note that, every year, around 91% of students at SAIC receive some kind of financial aid, while the total amount of assistance/loans provided is $8,140,539. Notably, a total of 18% of the applicants to School of the Art Institute of Chicago receive the Federal Grant every year. Meanwhile, 91% of the applicants receive the Student Grant and 91% are awarded the Institution Grant, while 18% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,405, the State Grant receivers and Institution Grant beneficiaries get $4,780 and $15,749, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,950. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At School of the Art Institute of Chicago, the percentage of candidates who opt to avail of student loans is around 41%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

20%

State Grant Aid

6%

Institution Grant Aid

91%

Pell Grant

20%

Average Aid Awarded

Federal Grant Aid

$5,231

State Grant Aid

$4,541

Institution Grant Aid

$15,021

Pell Grant

$4,674

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$25,540

$30,001 - $48,000

$23,853

$48,001 - $75,000

$23,185

$75,001 - $110,000

$18,576

Over $110,000

$16,664

Student Loans for School of the Art Institute of Chicago (SAIC)

Average Loan Amount Average Loan Amount received per year.

$8,843/Year

Students Taking Out Loans

45%

Loan Default Rate

5.7%

Other Colleges In Illinois

Harper College
Harper College

Palatine, Illinois

DeVry University
DeVry University

Chicago, Illinois

Other Private not-for-profit Colleges

Remington College
Remington College

Lake Mary, Florida

Toccoa Falls College (TFC)
Toccoa Falls College (TFC)

Toccoa Falls, Georgia