by our College Data Analytics TeamMost students won’t pay the advertised price of a school. Instead, they will be provided with a financial aid plan that includes a mix of scholarships, grants, loans, and work-study. But some kinds of aid are more desirable than others, and some students will get more than others.
The amount of financial assistance and scholarships or grants you can get varies based on your circumstances. Keep reading to learn more to help you to know just how much aid and scholarships to expect from ICC.
$4,994.00 is the typical Illinois Central College’s first year financial aid package. About 62% of first year students receive financial aid, most of which is in the form of loans.
Financial aid helps decrease the expense, or the “sticker” price of the school. But keep in mind that the only real discounts off the cost of college are in the form of grants and scholarships.
A college loan is not a true college discount, but rather an outcome to consider. Find out how much student loan debt from Illinois Central College you may end up taking on.
Financial awards given by a college or university to its students, known as institutional scholarships and grants, help to offset the cost of tuition and other education-related expenses. These awards fall into two categories: merit-based and need-based, and they do not need to be paid back. Merit-based institutional scholarships are granted to students who have shown outstanding academic accomplishments, special talents, or abilities in a particular field. Factors such as high school performance, standardized test results, or involvement in extracurricular activities often contribute to these scholarship decisions. Conversely, need-based institutional grants cater to students who demonstrate financial need. The awarded amount is typically based on the student’s family’s financial standing and is intended to cover the difference between the cost of attendance and the family’s ability to contribute. Colleges and universities might use data from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms to determine a student’s eligibility for need-based grants. Institutional scholarships and grants are a vital source of financial support for students, as they can significantly reduce the cost of attending college and help make higher education more accessible.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
19% of new students (210 total) were given scholarships at Illinois Central College, averaging $2,787.00 per student. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 41% of freshman students (448 total) obtained federal grant aid, averaging $5,194.00 a piece.
Amount of Financial Assistance Per Income Level
The table shows scholarship and grant allocations by income for first-year students receiving any type of federal Title IV assistance, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 18.90% | $7,985.00 |
| Income 30k-48k | 9.22% | $6,881.00 |
| Income 48k-75k | 7.58% | $3,974.00 |
| Income 75k-110k | 3.74% | $1,252.00 |
| Income 110k + | 0.55% | $125.00 |
The table above shows students who are receiving Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more.
Of the 1095 undergraduate students at Illinois Central College around 62% (567 total) receive some form of grant aid. The typical amount awarded was $4,994.00.The largest share of which are in the guise of Pell Grants.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.