What Amount of Financial Aid is Offered?
Allegany College of Maryland's average financial aid plan for new first year students is $12,024. Around 84.0% of new students receive some money for college, the majority of which is in the form of loans.
Student loans are a part of financial aid offers, however the only true discount from the expense of college is a scholarship or grant that you don't need to repay.
A college loan is not a legitimate college discount, but rather an additional cost consideration. See how much student loan debt from Allegany College of Maryland you could end up taking on.
How Much Aid Is Available That I Don't Have to Repay? (A.K.A. Scholarships & Grants)
The numbers and the chart below reference mainly grants from federal sources, plus some local and state grants. 63.0% of first years at Allegany College of Maryland (244 total) were awarded a federal grant, averaging $4,776. In addition to grants, 37.0% of first years (142 total) got scholarships by the college, totaling $2,198 each.
How are grants and scholarships allocated to freshmen at Allegany College of Maryland? View the graph listed below.
Grants are normally based on need while scholarships are merit-based.
How Family Income Affects Aid
The next chart demonstrates grant and scholarship distributions by family income for freshman students getting any form of federal Title IV assistance, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 53.2% | $5,420 |
| Income 30k-48k | 0.8% | $5,790 |
| Income 48k-75k | 1.3% | $4,241 |
| Income 75k-110k | 0.3% | $1,500 |
| Income 110k + | 0.3% | $0 |
Financial assistance by the government through loans, grants, and work-study is referred to as Title IV aid. Get more info on Title IV here..
The Average Undergraduate Who Gets a Grant or Scholarship Obtains $3,489
86.0% of the 2,717 undergraduate students at Allegany College of Maryland obtain some form of grant aid. A total around 2,339 students benefiting from about $3,489 each. The most of which are in the form of Pell Grants.
Check out the Tuition and Fees page or the Cost Per Credit Hour page for more information.
Financial Aid Links from Allegany College of Maryland
| Financial Aid Department Website | www.allegany.edu/finaid/ |
| Net Price Calculator | services.allegany.edu/netprice/ |
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