$3,804

Avg. Federal Grant

$4,855

Avg. Federal Loan

$20,842,176

Total Aid Awarded

South Plains College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

53%

Total Aid Amount Average Total Aid Awarded per year.

$20.842M

Financial Aid Official Website

www.southplainscollege.edu/admission-aid/paying-for-school/financial_aid.php

It is interesting to note that, every year, around 82% of students at SPC receive some kind of financial aid, while the total amount of assistance/loans provided is $10,138,483. The total percentage of candidates applying to South Plains College who receive the Federal Grant is 62%. In comparison, 78% of the students are awarded the Student Grant, 15% get the Institution Grant, and 62% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,385, while the same comes to $2,510 for State Grant receivers and $1,985 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,779. 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. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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 South Plains College, the percentage of candidates who opt to avail of student loans is around 28%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

75%

State Grant Aid

16%

Institution Grant Aid

26%

Pell Grant

65%

Average Aid Awarded

Federal Grant Aid

$3,804

State Grant Aid

$2,992

Institution Grant Aid

$2,242

Pell Grant

$4,290

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$5,871

$30,001 - $48,000

$4,924

$48,001 - $75,000

$2,741

$75,001 - $110,000

$392

Over $110,000

$133

Student Loans for South Plains College

Average Loan Amount Average Loan Amount received per year.

$4,855/Year

Students Taking Out Loans

23%

Loan Default Rate

13.6%

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