Claremont McKenna College (CMC) Financial Aid and Scholarships
Students Receiving Aid
45%
Total Aid Amount
$25.050M
Financial Aid Official Website
www.cmc.edu/financial-aid
It is interesting to note that, every year, around 52% of students at CMC receive some kind of financial aid, while the total amount of assistance/loans provided is $1,408,971. More information regarding the financial assistance schemes can be accessed on CMC’s official financial aid page at http://www.cmc.edu/financial-aid. The total percentage of candidates applying to Claremont McKenna College who receive the Federal Grant is 19%. Meanwhile, 45% of the applicants receive the Student Grant and 45% are awarded the Institution Grant, while 19% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,478, the State Grant receivers and Institution Grant beneficiaries get $9,084 and $45,436, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,775. 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 a family income below $30,000 per annum, would get an average federal aid of $62,296 in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $60,302, while those falling in the $48,001-$75,000 income category get $54,648 a year. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $44,973. And, for those with a family income of more than $110,000, the amount stands at $21,416. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At Claremont McKenna College, the percentage of candidates who opt to avail of student loans is around 31%.
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