$5,182

Avg. Federal Grant

$4,118

Avg. Federal Loan

$3,969,661

Total Aid Awarded

Spoon River College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

61%

Total Aid Amount Average Total Aid Awarded per year.

$3.970M

Financial Aid Official Website

www.src.edu/services/financial-aid/Pages/default.aspx

It is interesting to note that, every year, around 89% of students at SRC receive some kind of financial aid, while the total amount of assistance/loans provided is $1,249,645. One can visit SRC's financial aid page at http://www.src.edu/services/financial-aid/Pages/default.aspx for more information. The total percentage of candidates applying to Spoon River College who receive the Federal Grant is 61%. Meanwhile, 80% of the applicants receive the Student Grant and 32% are awarded the Institution Grant, while 61% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,286, while the same comes to $1,893 for State Grant receivers and $1,814 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,462. 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. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. 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 SRC, an estimated number of 31% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

63%

State Grant Aid

40%

Institution Grant Aid

31%

Pell Grant

60%

Average Aid Awarded

Federal Grant Aid

$5,182

State Grant Aid

$2,094

Institution Grant Aid

$1,545

Pell Grant

$5,295

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$7,154

$30,001 - $48,000

$6,465

$48,001 - $75,000

$3,467

$75,001 - $110,000

$3,210

Over $110,000

$1,119

Student Loans for Spoon River College

Average Loan Amount Average Loan Amount received per year.

$4,374/Year

Students Taking Out Loans

27%

Loan Default Rate

18.5%

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