$4,866

Avg. Federal Grant

$3,969

Avg. Federal Loan

$15,582,799

Total Aid Awarded

Springfield Technical Community College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

63%

Total Aid Amount Average Total Aid Awarded per year.

$15.583M

Financial Aid Official Website

www.stcc.edu/finaid

As many as 85% of the students at STCC get some sort of financial aid, and the total amount of assistance/loans provided is more than $1,641,554 in a year. More information regarding the financial assistance schemes can be accessed on STCC’s official financial aid page at http://www.stcc.edu/finaid. The total percentage of candidates applying to Springfield Technical Community College who receive the Federal Grant is 67%. In comparison, 78% of the students are awarded the Student Grant, 38% get the Institution Grant, and 67% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,720, while the same comes to $1,237 for State Grant receivers and $714 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $2,330. 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. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At STCC, an estimated number of 20% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

68%

State Grant Aid

65%

Institution Grant Aid

37%

Pell Grant

68%

Average Aid Awarded

Federal Grant Aid

$4,866

State Grant Aid

$1,101

Institution Grant Aid

$558

Pell Grant

$4,808

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,178

$30,001 - $48,000

$5,982

$48,001 - $75,000

$3,557

$75,001 - $110,000

$790

Over $110,000

$409

Student Loans for Springfield Technical Community College

Average Loan Amount Average Loan Amount received per year.

$4,213/Year

Students Taking Out Loans

17%

Loan Default Rate

12.5%

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