by our College Data Analytics TeamMost students are not billed the full sticker price of a school. Rather, they are offered a financial aid plan that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The sum total of attendance at McHenry County College can sound overpowering, but remember that the majority of students get some type of financial assistance.
Just what financial aid solutions can MCC deliver, and just what are you going to be eligible for? Keep reading for answers. Read on to learn how much school funding will be available to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Use the information below to understand how much financial assistance you may get from McHenry County College.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
For freshmen starting at McHenry County College, 44% of first-time, full-time freshmen received some form of financial aid some 147 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 33% | $6,422 |
| Institutional grants & scholarships | 0% | $355 |
| Federal Pell grants | 28% | $6,014 |
| State/local grants | 11% | $2,542 |
| Federal student loans | 5% | $4,676 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. Across the undergraduate body at MCC, about 18% of the undergraduate population received grant aid that averaged $4,355 (among about 1668 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 18% | $4,355 |
| Federal Pell grants | 11% | $4,816 |
| Federal student loans | 1% | $4,731 |
For on-campus title-IV students, average grant aid came to $5,303.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $6,993 |
| $30,001 – $75,000 | $8,287 |
| Over $75,000 | $11,567 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
After grants and scholarships come off the published price, what remains is the net price — the best estimate of true out-of-pocket cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $7,042 |
| Off-campus title-IV students | $8,093 |
For a personalized estimate based on your family’s financial situation, use MCC’s online cost calculator: www.mchenry.edu/netprice.
The median federal debt load at MCC comes to $5,297 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $5,297 |
| Median federal debt (graduates only) | $6,260 |
| Typical 10-year monthly payment (graduates) | $66.37/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. The four reference points below map the debt distribution at MCC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,515 |
| 25th percentile | $2,300 |
| 75th percentile | $8,160 |
| 90th percentile (highest-debt students) | $13,500 |
Median debt varies by family income, by first-generation status, and by dependency status.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $6,400 |
| Middle income | $4,350 |
| High income | $5,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $5,429 |
| Continuing-generation students | $5,176 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $4,950 |
| Independent students | $7,705 |
The figure below distills the debt data into a single burden category for MCC.
Stafford loans are the federal government’s primary direct undergraduate lending program. The totals below capture Stafford lending at MCC:
| Metric | Value |
|---|---|
| Stafford loan recipients | 3387 |
| Total Stafford loan amount | $26,340,503 |
Veterans and active-duty service members may qualify for the Post-9/11 GI Bill or DoD Tuition Assistance.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 36 |
| Total GI Bill amount | $84,697 |
| Average GI Bill amount per recipient | $2,353 |
References
More about our data sources and methodologies.