$5,185

Avg. Federal Grant

$3,984

Avg. Federal Loan

$15,097,470

Total Aid Awarded

Southern Maine Community College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

53%

Total Aid Amount Average Total Aid Awarded per year.

$15.097M

Financial Aid Official Website

www.smccme.edu/admissions-aid/financial-aid/

Such schemes include Maine Public Relations Council Scholarship, Maine State Society of Washington D.C. Scholarship, Maine Student Grant, and Maine Veterans Dependent Educational Benefits. As many as 80% of the students at SMCC get some sort of financial aid, and the total amount of assistance/loans provided is more than $7,040,023 in a year. One can visit SMCC's financial aid page at http://www.smccme.edu/admissions-aid/financial-aid/ for more information. The total percentage of candidates applying to Southern Maine Community College who receive the Federal Grant is 51%. Meanwhile, 67% of the applicants receive the Student Grant and 33% are awarded the Institution Grant, while 51% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,372, while the same comes to $1,491 for State Grant receivers and $1,392 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $5,148. 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. 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 Southern Maine Community College, the percentage of candidates who opt to avail of student loans is around 42%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

57%

State Grant Aid

34%

Institution Grant Aid

38%

Pell Grant

57%

Average Aid Awarded

Federal Grant Aid

$5,185

State Grant Aid

$1,500

Institution Grant Aid

$1,055

Pell Grant

$5,069

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,987

$30,001 - $48,000

$6,335

$48,001 - $75,000

$3,071

$75,001 - $110,000

$554

Over $110,000

$294

Student Loans for Southern Maine Community College

Average Loan Amount Average Loan Amount received per year.

$4,317/Year

Students Taking Out Loans

43%

Loan Default Rate

12.6%