$4,170

Avg. Federal Grant

$6,333

Avg. Federal Loan

$1,293,114

Total Aid Awarded

St Lukes College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

72%

Total Aid Amount Average Total Aid Awarded per year.

$1.293M

Financial Aid Official Website

www.stlukescollege.edu/financial-aid.aspx

Interestingly, almost all of the students at SLC receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $1,354,729 in a year. More information regarding the financial assistance schemes can be accessed on SLC’s official financial aid page at http://www.stlukescollege.edu/financial-aid.aspx. Notably, a total of 75% of the applicants to St Luke's College receive the Federal Grant every year. In comparison, 88% of the students are awarded the Student Grant, 38% get the Institution Grant, and 50% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $2,608, and the same stands at $6,096 for State Grant awardees and $1,833 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,868. 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. Those with an annual income level of $75,001-$110,000 would receive $3,000, while candidates with more than $110,000 of family income receive an average federal aid of $375. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. At St Luke's College, the percentage of candidates who opt to avail of student loans is around 88%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

67%

State Grant Aid

33%

Institution Grant Aid

33%

Pell Grant

67%

Average Aid Awarded

Federal Grant Aid

$4,170

State Grant Aid

$5,650

Institution Grant Aid

$5,000

Pell Grant

$4,170

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

N/A

$30,001 - $48,000

$5,570

$48,001 - $75,000

$2,770

$75,001 - $110,000

$10,650

Over $110,000

N/A

Student Loans for St Lukes College

Average Loan Amount Average Loan Amount received per year.

$6,333/Year

Students Taking Out Loans

100%

Loan Default Rate

4.6%

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