$5,265

Avg. Federal Grant

$5,970

Avg. Federal Loan

$25,133,605

Total Aid Awarded

Spelman College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

86%

Total Aid Amount Average Total Aid Awarded per year.

$25.134M

Financial Aid Official Website

www.spelman.edu/admissions/financial-aid

As many as 97% of the students at SC get some sort of financial aid, and the total amount of assistance/loans provided is more than $11,482,783 in a year. One can visit SC's financial aid page at http://www.spelman.edu/admissions/financial-aid for more information. Notably, a total of 46% of the applicants to Spelman College receive the Federal Grant every year. In comparison, 87% of the students are awarded the Student Grant, 57% get the Institution Grant, and 46% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,312, while the same comes to $4,654 for State Grant receivers and $8,856 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $5,359. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Students whose family income per annum is less than $30,000 will receive a federal aid of $14,384 on average in a year. The average aid amount stands at $11,299 for an annual family income between $30,001 and $48,000. This amount comes to $10,651 for those who fall under the $48,001-$75,000 family income bracket. On the other hand, the average federal aid stands at $5,146 for those with an annual family income between $75,001 and $110,000, and at $5,409 for an income more than $110,000. 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. Candidates are also required to repay these loans within a given period. At SC, an estimated number of 84% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

45%

State Grant Aid

27%

Institution Grant Aid

61%

Pell Grant

45%

Average Aid Awarded

Federal Grant Aid

$5,265

State Grant Aid

$5,440

Institution Grant Aid

$10,792

Pell Grant

$5,017

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$14,177

$30,001 - $48,000

$14,640

$48,001 - $75,000

$9,724

$75,001 - $110,000

$9,370

Over $110,000

$6,685

Student Loans for Spelman College

Average Loan Amount Average Loan Amount received per year.

$8,057/Year

Students Taking Out Loans

85%

Loan Default Rate

5%

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