$4,693

Avg. Federal Grant

$6,594

Avg. Federal Loan

$7,903,402

Total Aid Awarded

Merritt College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

50%

Total Aid Amount Average Total Aid Awarded per year.

$7.903M

Financial Aid Official Website

www.merritt.edu/wp/financial-aid/

As many as 72% of the students at MC get some sort of financial aid, and the total amount of assistance/loans provided is more than $429,790 in a year. One can visit MC's financial aid page at http://www.merritt.edu/wp/financial-aid/ for more information. Notably, a total of 41% of the applicants to Merritt College receive the Federal Grant every year. In comparison, 72% of the students get the Student Grant, and 41% of the applicants receive the Pell Grant. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,550. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund 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.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

60%

State Grant Aid

77%

Institution Grant Aid

N/A

Pell Grant

60%

Average Aid Awarded

Federal Grant Aid

$4,693

State Grant Aid

$2,037

Institution Grant Aid

N/A

Pell Grant

$4,560

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$7,305

$30,001 - $48,000

$7,559

$48,001 - $75,000

$4,105

$75,001 - $110,000

N/A

Over $110,000

N/A

Student Loans for Merritt College

Average Loan Amount Average Loan Amount received per year.

$6,594/Year

Students Taking Out Loans

3%

Loan Default Rate

23.6%

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