by our College Data Analytics TeamMost students will never be charged the full, advertised sticker price of a school. Instead, they will be given a financial aid offer that will include a combination of scholarships, grants, loans, and work-study. The total price of attendance at Illinois Valley Community College can feel overwhelming, but bear in mind that many students receive some sort of financial aid.
What financial assistance options will IVCC offer, and what will you qualify for? Read on for more information. Keep reading to discover how much school funding could be available to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. Use the information below to understand how much financial assistance you may get from Illinois Valley Community College.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. However, some types of aid are more desirable than others, and some students will receive more than others.
For freshmen starting at Illinois Valley Community College, 77% of entering full-time freshmen got some type of financial assistance (about 284 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 54% | $7,544 |
| Institutional grants & scholarships | 23% | $2,645 |
| Federal Pell grants | 39% | $6,592 |
| State/local grants | 35% | $2,335 |
| Federal student loans | 2% | $3,735 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. Here, about 52% of the undergraduate population received grant aid that averaged $5,744 (for some 1358 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 52% | $5,744 |
| Federal Pell grants | 26% | $6,130 |
| Federal student loans | 3% | $4,857 |
On-campus students receiving title-IV aid were awarded grants averaging $8,835.
The figures below show the average net price — cost after all grant and scholarship aid — broken out by family income.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $2,335 |
| $30,001 – $75,000 | $4,626 |
| Over $75,000 | $9,617 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
The net price strips out grant and scholarship aid from the sticker price to show roughly what families really pay.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $2,232 |
| Off-campus title-IV students | $3,957 |
To project your own net price, use IVCC’s official net price calculator: www.ivcc.edu/financialaid/net-price-calculator.php.
The median federal debt load at IVCC comes to $6,500 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $6,500 |
| Median federal debt (graduates only) | $8,233 |
| Typical 10-year monthly payment (graduates) | $87.28/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
Looking only at the median can be misleading because it hides the spread. These percentiles trace how cumulative federal debt is spread among borrowers at IVCC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,600 |
| 25th percentile | $2,900 |
| 75th percentile | $10,000 |
| 90th percentile (highest-debt students) | $17,000 |
Median debt varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $6,708 |
| Middle income | $5,500 |
| High income | $7,440 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,500 |
| Continuing-generation students | $7,970 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $8,260 |
A handful of calculated indicators summarize the debt outlook at IVCC.
The Stafford program is the federal direct-loan vehicle most undergraduates use. The aggregate figures below show how active the program is at IVCC:
| Metric | Value |
|---|---|
| Stafford loan recipients | 2719 |
| Total Stafford loan amount | $23,955,716 |
If you are a veteran or active-duty service member, the GI Bill and DoD Tuition Assistance are the primary federal programs you can use at this school.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 16 |
| Total GI Bill amount | $52,206 |
| Average GI Bill amount per recipient | $3,263 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 1 |
| Total DoD amount | $380 |
| Average DoD amount per recipient | $380 |
References
More about our data sources and methodologies.