$4,876

Avg. Federal Grant

$5,112

Avg. Federal Loan

$11,644,790

Total Aid Awarded

Spartanburg Methodist College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

100%

Total Aid Amount Average Total Aid Awarded per year.

$11.645M

Financial Aid Official Website

https://www.smcsc.edu/financial-aid/

As many as 99% of the students at SMC get some sort of financial aid, and the total amount of assistance/loans provided is more than $3,175,748 in a year. One can visit SMC's financial aid page at https://www.smcsc.edu/financial-aid/ for more information. The total percentage of candidates applying to Spartanburg Methodist College who receive the Federal Grant is 62%. In comparison, 99% of the students are awarded the Student Grant, 99% get the Institution Grant, and 62% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,035, while the same comes to $6,584 for State Grant receivers and $6,559 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,860. 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. Students whose family income per annum is less than $30,000 will receive a federal aid of $15,839 on average in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $16,583, while those falling in the $48,001-$75,000 income category get $14,523 a year. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $15,418. And, for those with a family income of more than $110,000, the amount stands at $14,733. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 69% of the applicants to Spartanburg Methodist College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

60%

State Grant Aid

89%

Institution Grant Aid

100%

Pell Grant

60%

Average Aid Awarded

Federal Grant Aid

$4,876

State Grant Aid

$6,416

Institution Grant Aid

$6,638

Pell Grant

$4,771

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$16,274

$30,001 - $48,000

$16,013

$48,001 - $75,000

$15,101

$75,001 - $110,000

$13,107

Over $110,000

$13,586

Student Loans for Spartanburg Methodist College

Average Loan Amount Average Loan Amount received per year.

$5,248/Year

Students Taking Out Loans

69%

Loan Default Rate

20.6%

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