$5,530

Avg. Federal Grant

$6,056

Avg. Federal Loan

$11,847,607

Total Aid Awarded

Thomas College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

47%

Total Aid Amount Average Total Aid Awarded per year.

$11.848M

Financial Aid Official Website

www.thomas.edu/fa/

Students can avail of scholarships provided by the college, such as Carnegie Dartlet $10,000 Scholarship, Community Service Scholarship for Multicultural Students, Maine Difference Scholarship, and Maine Metal Products Association Scholarship, if they find educational expenses to be on the higher side. As many as 98% of the students at TC get some sort of financial aid, and the total amount of assistance/loans provided is more than $4,827,527 in a year. One can visit TC's financial aid page at http://www.thomas.edu/fa/ for more information. At TC, the total percentage of applicants who receive the Federal Grant stands at 51%. In comparison, 98% of the students are awarded the Student Grant, 98% get the Institution Grant, and 51% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,673, while the same comes to $1,380 for State Grant receivers and $14,278 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,425. 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. Students whose family income per annum is less than $30,000 will receive a federal aid of $17,970 on average in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $19,211, while those falling in the $48,001-$75,000 income category get $16,806 a year. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $14,840. And, for those with a family income of more than $110,000, the amount stands at $10,927. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. However, student loans attract a certain rate of interest at which the funds are borrowed. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At TC, an estimated number of 93% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

46%

State Grant Aid

36%

Institution Grant Aid

100%

Pell Grant

46%

Average Aid Awarded

Federal Grant Aid

$5,530

State Grant Aid

$1,406

Institution Grant Aid

$13,179

Pell Grant

$4,463

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$18,967

$30,001 - $48,000

$19,258

$48,001 - $75,000

$15,650

$75,001 - $110,000

$14,812

Over $110,000

$13,277

Student Loans for Thomas College

Average Loan Amount Average Loan Amount received per year.

$9,288/Year

Students Taking Out Loans

94%

Loan Default Rate

12.6%