by our College Data Analytics TeamMost college students will not be charged the full price tag of a school. Instead, they will be offered a financial aid package that includes a combination of loans, grants, scholarships and possibly work-study opportunities.
Discover the financial aid possibilities at Illinois College and learn what assistance you might qualify for by continuing to read.
Illinois College average financial aid offer for freshmen students is $26,942.00. 100% of first-year students are awarded financial aid, primarily comprising grants and scholarships.
Financial aid helps reduce the cost, or the full retail price of the college. However, be aware that the only true college discount is scholarships & grants.
A college loan is not a true college discount, but rather an outcome to consider. Find out how much student loan debt from Illinois 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 following numbers apply to scholarships and grants largely offered by the school itself.
100% of incoming freshmen (323 total) were given scholarships at Illinois College, averaging $21,219.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 89% of first-year students (288 total) got federal grant aid, averaging $3,936.00 per person.
Amount of Financial Assistance Per Income Level
The following table displays scholarship and grant allocations by family income for freshman students receiving any kind of federal Title IV assistance, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 19.20% | $32,028.00 |
| Income 30k-48k | 10.53% | $31,818.00 |
| Income 48k-75k | 17.03% | $26,619.00 |
| Income 75k-110k | 16.10% | $22,483.00 |
| Income 110k + | 23.53% | $21,148.00 |
The table above displays undergrads who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
323 Illinois College undergrads obtain grant aid (this is about 100% of the entire undergraduate student population). The average amount these students receive is $26,942.00.
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.