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.
Uncover the various financial aid options provided by SWIC and determine which ones you may be eligible for by continuing your exploration.
Southwestern Illinois College average financial aid offer for freshmen students is $4,806.00. 62% of reshman students get financial aid, most of which is in the form of 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 student loan isn’t a genuine college price reduction, but rather an additional cost consideration. Discover how much student loan debt from Southwestern Illinois College you could end up dealing with.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The numbers below apply to scholarships and grants primarily provided by Southwestern Illinois College.
20% of new students (179 total) were given scholarships at Southwestern Illinois College, averaging $2,555.00 per student. This puts it in the bottom 50th percentile among colleges and universities nationwide.
As well as scholarships, 40% of freshmen (352 total) obtained a federal grant, for about $4,860.00 a piece.
The next table demonstrates grant and scholarship distributions by income level for freshmen getting any form of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 21.55% | $6,137.00 |
| Income 30k-48k | 10.21% | $5,451.00 |
| Income 48k-75k | 6.40% | $2,327.00 |
| Income 75k-110k | 4.04% | $427.00 |
| Income 110k + | 1.91% | $389.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
Of the 891 undergraduate students at Southwestern Illinois College around 62% (496 total) receive some form of grant aid. The typical amount awarded was $4,806.00.The bulk of which are 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.