$2,678

Avg. Federal Grant

$3,076

Avg. Federal Loan

$13,654,171

Total Aid Awarded

Schoolcraft College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

48%

Total Aid Amount Average Total Aid Awarded per year.

$13.654M

Financial Aid Official Website

www.schoolcraft.edu/aid/financial-aid

Students can avail of scholarships provided by the school, such as Art and Helen Nickless Scholarship, Auburn Jaycees Education Scholarship, Bay City Civitan/Marcella Barber Scholarship, and Bay City Kiwanis Educational Scholarship, if they find educational expenses to be on the higher side. As many as 70% of the students at SC get some sort of financial aid, and the total amount of assistance/loans provided is more than $6,560,891 in a year. The total percentage of candidates applying to Schoolcraft College who receive the Federal Grant is 39%. On the other hand, 66% of the candidates get the Student Grant, 36% receive the Institution Grant, and 39% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $3,098, and the same stands at $1,692 for State Grant awardees and $519 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,891. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At SC, an estimated number of 12% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

37%

State Grant Aid

6%

Institution Grant Aid

38%

Pell Grant

37%

Average Aid Awarded

Federal Grant Aid

$2,678

State Grant Aid

$1,545

Institution Grant Aid

$480

Pell Grant

$2,537

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$3,264

$30,001 - $48,000

$2,539

$48,001 - $75,000

$1,796

$75,001 - $110,000

$769

Over $110,000

$222

Student Loans for Schoolcraft College

Average Loan Amount Average Loan Amount received per year.

$3,076/Year

Students Taking Out Loans

8%

Loan Default Rate

15.3%

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