Philander Smith College Financial Aid and Scholarships
Students Receiving Aid
93%
Total Aid Amount
$9.082M
Financial Aid Official Website
https://www.philander.edu/financial-aid2/
Students can avail of scholarships provided by the college, such as George Taylor Scholarship, Presidential Scholarship, and Thomas Mason Scholarship, if they find educational expenses to be on the higher side. As many as 99% of the students at PSC get some sort of financial aid, and the total amount of assistance/loans provided is more than $6,139,194 in a year. More information regarding the financial assistance schemes can be accessed on PSC’s official financial aid page at https://www.philander.edu/financial-aid2/. Notably, a total of 82% of the applicants to Philander Smith College receive the Federal Grant every year. Meanwhile, 97% of the applicants receive the Student Grant and 79% are awarded the Institution Grant, while 82% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,654, and the same stands at $1,000 for State Grant awardees and $9,303 for Institution Grant recipients. And, for the Pell Grant awardees, the average aid amount is $5,571. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $9,128 per year. The average aid amount stands at $8,773 for an annual family income between $30,001 and $48,000. This amount comes to $9,366 for those who fall under the $48,001-$75,000 family income bracket. On the other hand, the average federal aid stands at $6,106 for those with an annual family income between $75,001 and $110,000, and at $17,417 for an income more than $110,000. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. 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. Every year, around 80% of the applicants to Philander Smith College opt for student loans.
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