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 cost of going to McLennan Community College can seem overwhelming, but bear in mind that many students are given some form of financial aid.
Just what financial aid solutions can MCC deliver, and just what are you going to be eligible for? Keep reading for answers. Scroll down to learn just how much financial aid will be open to you.
Eligibility for aid and scholarships is driven mostly by your household’s income and need. Read on to get a sense of the financial assistance available at McLennan Community 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.
Among first-time, full-time freshmen at McLennan Community College, 87% of first-time, full-time freshmen received some form of financial aid (about 636 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 82% | $8,007 |
| Institutional grants & scholarships | 31% | $3,967 |
| Federal Pell grants | 62% | $6,239 |
| State/local grants | 40% | $3,710 |
| Federal student loans | 18% | $3,309 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. Here, approximately 60% of the undergraduate population received grant aid that averaged $7,516 (for some 4320 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 60% | $7,516 |
| Federal Pell grants | 38% | $6,094 |
| Federal student loans | 20% | $3,917 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $7,869.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $6,143 |
| $30,001 – $75,000 | $9,092 |
| Over $75,000 | $12,757 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
The net price represents the average annual cost a title-IV-receiving student pays after grant aid is subtracted from the full cost of attendance.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $5,051 |
| Off-campus title-IV students | $6,185 |
To get a personalized net price estimate, try MCC’s official net price calculator: www.mclennan.edu/financial-aid/.
The middle student in the debt distribution at MCC owes $6,136 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $6,136 |
| Median federal debt (graduates only) | $10,500 |
| Typical 10-year monthly payment (graduates) | $111.32/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
The median alone does not show how widely outcomes vary across the student body. The percentiles below describe the cumulative federal debt distribution for borrowers at MCC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,750 |
| 25th percentile | $2,750 |
| 75th percentile | $12,788 |
| 90th percentile (highest-debt students) | $24,000 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $6,752 |
| Middle income | $5,500 |
| High income | $5,250 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,255 |
| Continuing-generation students | $5,250 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,250 |
| Independent students | $7,043 |
The figure below distills the debt data into a single burden category for MCC.
Stafford loans make up the bulk of federal direct lending to undergraduates. These figures summarize annual Stafford program activity at MCC:
| Metric | Value |
|---|---|
| Stafford loan recipients | 27822 |
| Total Stafford loan amount | $356,821,266 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 76 |
| Total GI Bill amount | $119,067 |
| Average GI Bill amount per recipient | $1,567 |
References
More about our data sources and methodologies.