by our College Data Analytics TeamMost students are not billed the advertised price of a school. Instead, they will be provided a financial aid package that will include a combination of scholarships, grants, loans, and work-study. The total price of attendance at Reading Area Community College can feel overwhelming, but bear in mind that many students receive some sort of financial aid.
Just what financial assistance solutions will RACC deliver, and just what are you going to be eligible for? Read on for answers. Scroll down to see just how much financial aid could be open to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Continue reading to find information to help you understand just how much assistance you can expect to receive from Reading Area Community College.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Bear in mind that not all aid is equal, and the amount any one student receives can vary widely.
Among first-time, full-time freshmen at Reading Area Community College, 81% of entering full-time freshmen got some type of financial assistance some 276 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 74% | $5,603 |
| Institutional grants & scholarships | 26% | $2,452 |
| Federal Pell grants | 44% | $5,535 |
| State/local grants | 34% | $2,111 |
| Federal student loans | 21% | $4,884 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. At RACC, approximately 54% of undergraduates were awarded grant or scholarship aid averaging $5,397 (for some 2583 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 54% | $5,397 |
| Federal Pell grants | 35% | $3,826 |
| Federal student loans | 20% | $6,244 |
For on-campus title-IV students, average grant aid came to $5,335.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $6,809 |
| $30,001 – $75,000 | $7,332 |
| Over $75,000 | $11,803 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
Net price is the cost remaining after grant and scholarship aid is subtracted from the sticker price, and it is the most useful single number for estimating real cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $9,228 |
| Off-campus title-IV students | $8,039 |
For a personalized estimate based on your family’s financial situation, use RACC’s online cost calculator: www.racc.edu/sites/default/files/HEOA/NetPrice-Calculator/index.html.
The median student at RACC graduates with $8,250 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $8,250 |
| Median federal debt (graduates only) | $8,750 |
| Typical 10-year monthly payment (graduates) | $92.76/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
The median alone does not show how widely outcomes vary across the student body. The four reference points below map the debt distribution at RACC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,700 |
| 25th percentile | $3,000 |
| 75th percentile | $14,250 |
| 90th percentile (highest-debt students) | $28,500 |
Debt outcomes are not uniform — they shift with income, first-generation status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $9,450 |
| Middle income | $7,660 |
| High income | $6,571 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $8,250 |
| Continuing-generation students | $7,600 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,618 |
| Independent students | $9,500 |
A handful of calculated indicators summarize the debt outlook at RACC.
Most undergraduate borrowing runs through the federal Stafford loan program. These figures summarize annual Stafford program activity at RACC:
| Metric | Value |
|---|---|
| Stafford loan recipients | 15193 |
| Total Stafford loan amount | $230,479,990 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 35 |
| Total GI Bill amount | $139,553 |
| Average GI Bill amount per recipient | $3,987 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 2 |
| Total DoD amount | $5,330 |
| Average DoD amount per recipient | $2,665 |
References
More about our data sources and methodologies.