$4,753

Avg. Federal Grant

$5,798

Avg. Federal Loan

$45,979,707

Total Aid Awarded

Springfield College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

96%

Total Aid Amount Average Total Aid Awarded per year.

$45.980M

Financial Aid Official Website

www.springfield.edu/admissions/financial-aid

Such schemes include Access to Better Learning and Education Grant Program (ABLE), Carnegie Dartlet $10,000 Scholarship, Community Service Scholarship for Multicultural Students, and Heriberto Flores Scholarship. Notably, 99% of the students at Springfield College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $10,732,860. More information regarding the financial assistance schemes can be accessed on SC’s official financial aid page at http://www.springfield.edu/admissions/financial-aid. The total percentage of candidates applying to Springfield College who receive the Federal Grant is 25%. In comparison, 99% of the students are awarded the Student Grant, 99% get the Institution Grant, and 25% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,609, and the same stands at $2,323 for State Grant awardees and $21,125 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,368. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Those with a family income below $30,000 per annum, would get an average federal aid of $30,226 in a year. The average aid amount stands at $28,876 for an annual family income between $30,001 and $48,000. This amount comes to $27,502 for those who fall under the $48,001-$75,000 family income bracket. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $22,656. And, for those with a family income of more than $110,000, the amount stands at $16,204. 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. Candidates are also required to repay these loans within a given period. Every year, around 80% of the applicants to Springfield College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

29%

State Grant Aid

12%

Institution Grant Aid

98%

Pell Grant

29%

Average Aid Awarded

Federal Grant Aid

$4,753

State Grant Aid

$2,673

Institution Grant Aid

$20,861

Pell Grant

$4,265

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$30,020

$30,001 - $48,000

$30,412

$48,001 - $75,000

$28,301

$75,001 - $110,000

$22,634

Over $110,000

$17,870

Student Loans for Springfield College

Average Loan Amount Average Loan Amount received per year.

$9,567/Year

Students Taking Out Loans

83%

Loan Default Rate

7.5%

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