Oberlin College Financial Aid and Scholarships
Students Receiving Aid
85%
Total Aid Amount
$69.705M
Financial Aid Official Website
https://new.oberlin.edu/office/financial-aid/
Students can avail of scholarships provided by the college, such as Dr. Allen Smith Memorial Scholarship, Education Foundation Scholarship, Educational Assistance Commitment Grant, and James R. Hunt Memorial Scholarship, if they find educational expenses to be on the higher side. As many as 88% of the students at OC get some sort of financial aid, and the total amount of assistance/loans provided is more than $6,027,641 in a year. For additional information about financial assistance schemes, one can head over to OC’s financial aid page at https://new.oberlin.edu/office/financial-aid/. At OC, the total percentage of applicants who receive the Federal Grant stands at 8%. In comparison, 86% of the students are awarded the Student Grant, 86% get the Institution Grant, and 8% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $6,318, while the same comes to $2,191 for State Grant receivers and $30,380 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,374. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Those with a family income below $30,000 per annum, would get an average federal aid of $53,574 in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $54,580, while those falling in the $48,001-$75,000 income category get $51,038 a year. On the other hand, the average federal aid stands at $44,957 for those with an annual family income between $75,001 and $110,000, and at $26,876 for an income more than $110,000. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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. Every year, around 38% of the applicants to Oberlin College opt for student loans.
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