$4,596

Avg. Federal Grant

$4,189

Avg. Federal Loan

$20,550,211

Total Aid Awarded

Somerset Community College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

87%

Total Aid Amount Average Total Aid Awarded per year.

$20.550M

Financial Aid Official Website

https://somerset.kctcs.edu/affording-college/tuition-costs/index.aspx

Such schemes include Educational Foundation of the KYCPA Scholarships and Mary Jo Young Dual Credit Scholarship. Notably, 99% of the students at Somerset Community College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $8,109,739. At SCC, the total percentage of applicants who receive the Federal Grant stands at 75%. On the other hand, 97% of the candidates get the Student Grant, 19% receive the Institution Grant, and 75% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,546, and the same stands at $2,246 for State Grant awardees and $2,652 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,783. 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. 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 Somerset Community College, the percentage of candidates who opt to avail of student loans is around 20%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

74%

State Grant Aid

83%

Institution Grant Aid

17%

Pell Grant

74%

Average Aid Awarded

Federal Grant Aid

$4,596

State Grant Aid

$2,135

Institution Grant Aid

$2,474

Pell Grant

$4,485

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$7,071

$30,001 - $48,000

$7,094

$48,001 - $75,000

$4,699

$75,001 - $110,000

$1,645

Over $110,000

$2,145

Student Loans for Somerset Community College

Average Loan Amount Average Loan Amount received per year.

$4,189/Year

Students Taking Out Loans

27%

Loan Default Rate

21.8%

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