How Covenant's Financial Aid Changes

All Undergraduate Students Financial Aid Over Time

The following table and chart show the trends of financial aid for all undergraduate students at Covenant College since 2013.

For that period, the average number of students who received grants aid/scholarships is 947, which is 95.11 % of all undergraduate students. 498 students which is 49.78% of undergraduate students received federal student loans and the average loan amount is $6,481.

Year	Grant or Scholarship^*		Pell Grants		Federal Student Loans
Year	Number Received (percent^**)	Average Amount	Number Received (percent^**)	Average Amount	Number Received (percent^**)	Average Amount
2013-14	1,040 (94%)	$15,976	317 (29%)	$3,936	604 (55%)	$7,067
2014-15	1,046 (95%)	$16,316	302 (27%)	$3,903	586 (53%)	$6,689
2015-16	989 (95%)	$17,361	259 (25%)	$4,078	521 (50%)	$6,649
2016-17	963 (96%)	$19,236	240 (24%)	$3,871	526 (52%)	$6,862
2017-18	968 (94%)	$20,886	261 (25%)	$4,196	515 (50%)	$6,662
2018-19	961 (96%)	$22,296	245 (24%)	$4,309	489 (49%)	$6,148
2019-20	894 (95%)	$23,561	194 (21%)	$4,380	444 (47%)	$6,084
2020-21	832 (96%)	$23,399	175 (20%)	$4,428	397 (46%)	$6,192
2021-22	832 (95%)	$24,643	177 (20%)	$4,449	399 (46%)	$5,976
Average	947 (95.11%)	$20,408	241 (23.89%)	$4,172	498 (49.78%)	$6,481

Freshmen (First-time, Full-time Undergraduate) Financial Aid Over Time

Overview

For the last 10 years, on average, 248 (98.78 % of students) received grants or scholarships and its average amount is $21,496. It can cover 53.12% of tuition & fees ($40,464).

In addition, 133 (52.78 % of students) students get helped from the students loans (average amount : $7,117).

Year	Grants or Scholarships^*		Student Loans
Year	Number Received (percent^**)	Average Amount	Number Received (percent^**)	Average Amount
2013-14	293 (99%)	$16,965	167 (57%)	$7,676
2014-15	260 (98%)	$16,327	139 (52%)	$6,952
2015-16	253 (98%)	$18,232	132 (51%)	$6,389
2016-17	261 (98%)	$21,187	153 (58%)	$6,209
2017-18	261 (99%)	$22,537	146 (56%)	$6,795
2018-19	247 (99%)	$22,677	126 (51%)	$6,551
2019-20	217 (99%)	$23,741	108 (49%)	$7,087
2020-21	195 (99%)	$25,140	101 (52%)	$8,399
2021-22	249 (100%)	$26,658	123 (49%)	$7,996
Average	248 (98.78%)	$21,496	133 (52.78%)	$7,117

^*Grant or scholarship aid includes aid received, from the federal government, state or local government, the institution, and other sources known by the institution.

^**percentage of number of students receiving aids among all undergraduate students.

Grants/Scholarship

The following table shows the trends of grants or scholarships over time. For the last 10 years, on average, 63 (24.89 % of students) received Pell (federal) grants and its average amount is $4,086.

In addition, 69 students received State/local government grants/scholarships (28.00 % of students).

Year	Federal (Pell) Grants		Other Federal		State/Local government		Institutional
Year	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount
2013-14	84 (28%)	$3,981	33 (11%)	$3,612	64 (22%)	$3,643	281 (95%)	$15,246
2014-15	66 (25%)	$3,583	30 (11%)	$3,344	50 (19%)	$3,682	258 (97%)	$14,434
2015-16	69 (27%)	$4,096	45 (17%)	$3,556	66 (26%)	$4,181	245 (95%)	$15,895
2016-17	57 (22%)	$3,869	25 (9%)	$3,787	83 (31%)	$4,309	253 (95%)	$19,197
2017-18	77 (29%)	$4,265	18 (7%)	$3,333	76 (29%)	$4,412	253 (96%)	$20,389
2018-19	65 (26%)	$3,771	14 (6%)	$1,929	61 (24%)	$4,583	242 (97%)	$20,866
2019-20	51 (23%)	$4,167	79 (36%)	$2,175	67 (31%)	$4,645	212 (97%)	$21,020
2020-21	46 (23%)	$4,420	24 (12%)	$3,667	71 (36%)	$4,587	189 (96%)	$22,674
2021-22	52 (21%)	$4,626	24 (10%)	$3,917	84 (34%)	$4,935	245 (98%)	$24,036
Average	63 (24.89%)	$4,086	32 (13.22%)	$3,258	69 (28.00%)	$4,331	242 (96.22%)	$19,306

^*Grant or scholarship aid includes aid received, from the federal government, state or local government, the institution, and other sources known by the institution.

^**percentage of number of students receiving aids among all undergraduate students..

Student Loans

The following table describes number of students and average amount of loans by loan type. The following table shows the trends of grants or scholarships over time.

For the last 10 years, on average, 133 (52.78 % of students) get any students loan help and its average loan amount is $133.

Year	Total		Federal student loans		Other student loans
Year	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount
2013-14	167 (57%)	$7,676	167 (57%)	$6,850	14 (5%)	$9,854
2014-15	139 (52%)	$6,952	139 (52%)	$5,999	13 (5%)	$10,190
2015-16	132 (51%)	$6,389	131 (51%)	$5,559	7 (3%)	$16,460
2016-17	153 (58%)	$6,209	153 (58%)	$5,809	6 (2%)	$10,183
2017-18	146 (56%)	$6,795	146 (56%)	$5,448	13 (5%)	$15,126
2018-19	126 (51%)	$6,551	126 (51%)	$5,237	16 (6%)	$10,348
2019-20	108 (49%)	$7,087	105 (48%)	$4,968	21 (10%)	$11,605
2020-21	101 (52%)	$8,399	100 (51%)	$5,496	23 (12%)	$12,986
2021-22	123 (49%)	$7,996	122 (49%)	$5,260	22 (9%)	$15,535
Average	133 (52.78%)	$7,117	132 (52.56%)	$5,625	15 (6.33%)	$12,476

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Scholarships, Grants, and Loan Trends at Covenant

All Undergraduate Students Financial Aid Over Time

Freshmen (First-time, Full-time Undergraduate) Financial Aid Over Time