Financial Aid at LMC
Financial Aid Amount Received
$4,982 (66.43% of tuition)
Percent of Financial Aid Received
45% of 2,904 students
1,135 undergraduate students (45% of all students) have received grants, scholarships, and/or federal student loans at Lake Michigan College. The percentage of students who received financial aid average compared to Public, 2-4 Years Colleges in Michigan.
Compared to similar schools in rankings such as Alpena Community College and Henry Ford College, the percentage of students who received financial aid is higher (the average of the schools is 52.40%).
Undergraduate Financial Aid by Type
The average amount of grants of scholarship aid is $4,982 and the average loan amount is $4,247. The average financial aid amount is 66.43% of tuition & fees based on out-of-state rate (tuition & fees: $7,500).
| Number Receiving Aid | Percent Receiving Aid | Total Amount of Aid Received | Average Amount of Aid Received | |
|---|---|---|---|---|
| Grant or scholarship aid | 1,135 | 45% | $5,654,095 | $4,982 |
| Pell Grants | 454 | 18% | $1,892,468 | $4,168 |
| Federal Students Loans | 435 | 17% | $1,847,479 | $4,247 |
Undergraduate Student Financial Aid Comparison Chart
First-time (full-time) Undergraduate Students Financial Aid
For the full-time, first-time undergraduate students (freshmen, in most cases), 177 students have received one or more types of financial aid at Lake Michigan College.
The average amount of federal, state, local or institutional grant aid is $5,928 and the average amount of student loans awarded to full-time first-time undergraduate students is $4,358.
The following table shows the financial data by type of aid at Lake Michigan College.
First-time Undergraduate Financial Aid by Type
| Number Receiving Aid | Percent Receiving Aid | Total Amount of Aid Received | Average Amount of Aid Received | |
|---|---|---|---|---|
| Any Financial Aid | 187 | 73% | - | - |
| Grant or scholarship aid | 177 | 69% | $1,049,311 | $5,928 |
| Federal Grants | 103 | 40% | $568,553 | $5,520 |
| Pell Grants | 103 | 40% | $548,553 | $5,326 |
| Other Federal Grants | 55 | 21% | $20,000 | $364 |
| State/Local Grants | 54 | 21% | $198,033 | $3,667 |
| Institutional Grants | 102 | 40% | $282,725 | $2,772 |
| Student Loans | 55 | 21% | $239,694 | $4,358 |
| Federal Student Loans | 54 | 21% | $235,006 | $4,352 |
| Other Student Loans | 1 | 0% | $4,688 | $4,688 |
Financial Aid by Income Level
The following table summarizes the number of schools receiving financial aid and its average amount by income levels at Lake Michigan College.
| Income Level | # of Students | # of Students Receiving Aid | Total Amount of Aid Received | Average Amount of Aid Received |
|---|---|---|---|---|
| All Income Level | - | - | $742,783 | $6,573 |
| 0 - $30,000 | 54 | 53 | $488,954 | $9,055 |
| $30,001 - $48,000 | 18 | 18 | $126,484 | $7,027 |
| $48,001 - $75,000 | 20 | 19 | $84,567 | $4,228 |
| $75,001 - $110,000 | 7 | 5 | $19,754 | $2,822 |
| $110,001 - more | 14 | 9 | $23,024 | $1,645 |
Paid Tuition Rates by Residency
At Lake Michigan College, for the first-time/full-time students, 0 students have paid in-state rate of tuition and 27 students have paid out-of-state tuition rate. In addition, 230 students have paid in-district rate of tuition.
| # of Students | |
|---|---|
| In-District Rate | 230 |
| In-State Rate | 0 |
| Out-of-State Rate | 27 |
| Un-known | 0 |
Number of Students by Living Arrangement (Freshmen)
At Lake Michigan College, 60 full-time/first-time students live on-campus such as dormitory and campus-owned apartments, and 27 students live off-campus. In addition, 66 students live with their family.
| # of Students | |
|---|---|
| Living On-Campus | 60 |
| Living Off-Campus | 27 |
| Living with Family | 66 |
| Un-known | 4 |