How LMC'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 Lake Michigan College since 2013.

For that period, the average number of students who received grants aid/scholarships is 1,687, which is 49.00 % of all undergraduate students. 722 students which is 20.78% of undergraduate students received federal student loans and the average loan amount is $4,742.

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	2,143 (51%)	$4,909	1,891 (45%)	$4,784	921 (22%)	$6,596
2014-15	1,983 (47%)	$5,007	1,694 (40%)	$4,832	805 (19%)	$5,031
2015-16	1,733 (42%)	$5,228	1,476 (35%)	$3,896	654 (16%)	$5,275
2016-17	1,646 (41%)	$5,079	1,414 (35%)	$4,853	647 (16%)	$5,050
2017-18	1,541 (44%)	$6,098	1,183 (34%)	$4,132	498 (14%)	$5,031
2018-19	1,298 (38%)	$4,605	1,070 (31%)	$4,090	889 (26%)	$3,862
2019-20	1,165 (39%)	$4,902	956 (32%)	$4,445	1,113 (37%)	$4,166
2020-21	1,305 (52%)	$4,514	779 (31%)	$4,090	456 (18%)	$3,647
2021-22	2,366 (87%)	$4,089	1,006 (37%)	$4,150	519 (19%)	$4,021
Average	1,687 (49.00%)	$4,937	1,274 (35.56%)	$4,364	722 (20.78%)	$4,742

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

Overview

For the last 10 years, on average, 291 (80.44 % of students) received grants or scholarships and its average amount is $5,155. It can cover 68.73% of tuition & fees ($7,500) based on out-of-state rate.

In addition, 107 (29.78 % of students) students get helped from the students loans (average amount : $4,300).

Year	Grants or Scholarships^*		Student Loans
Year	Number Received (percent^**)	Average Amount	Number Received (percent^**)	Average Amount
2013-14	301 (77%)	$4,921	84 (21%)	$5,437
2014-15	365 (83%)	$4,855	109 (25%)	$4,459
2015-16	351 (80%)	$5,130	110 (25%)	$4,451
2016-17	317 (75%)	$5,030	105 (25%)	$4,429
2017-18	231 (78%)	$5,460	53 (18%)	$4,866
2018-19	278 (77%)	$4,644	146 (41%)	$3,528
2019-20	228 (70%)	$5,360	211 (65%)	$3,849
2020-21	252 (87%)	$4,722	63 (22%)	$3,556
2021-22	293 (97%)	$6,272	80 (26%)	$4,128
Average	291 (80.44%)	$5,155	107 (29.78%)	$4,300

^*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, 191 (51.78 % of students) received Pell (federal) grants and its average amount is $4,967.

In addition, 70 students received State/local government grants/scholarships (19.56 % 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	232 (59%)	$4,750	4 (1%)	$500	64 (16%)	$2,341	187 (48%)	$1,217
2014-15	264 (60%)	$4,838	1 (0%)	$500	71 (16%)	$2,348	175 (40%)	$1,873
2015-16	262 (60%)	$4,914	10 (2%)	$425	90 (20%)	$2,418	158 (36%)	$1,842
2016-17	240 (57%)	$4,737	10 (2%)	$450	90 (21%)	$2,408	120 (29%)	$1,970
2017-18	166 (56%)	$4,648	27 (9%)	$444	71 (24%)	$2,961	130 (44%)	$2,058
2018-19	158 (44%)	$5,184	40 (11%)	$481	54 (15%)	$2,887	143 (40%)	$2,075
2019-20	149 (46%)	$4,945	33 (10%)	$500	61 (19%)	$3,077	126 (39%)	$2,232
2020-21	108 (37%)	$5,229	188 (65%)	$643	73 (25%)	$3,170	121 (42%)	$2,255
2021-22	143 (47%)	$5,457	260 (86%)	$2,216	60 (20%)	$4,284	98 (32%)	$2,287
Average	191 (51.78%)	$4,967	64 (23.25%)	$684	70 (19.56%)	$2,877	140 (38.89%)	$1,979

^*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, 107 (29.78 % of students) get any students loan help and its average loan amount is $107.

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	84 (21%)	$5,437	84 (21%)	$5,397	1 (0%)	$3,392
2014-15	109 (25%)	$4,459	107 (24%)	$4,303	6 (1%)	$4,266
2015-16	110 (25%)	$4,451	109 (25%)	$4,346	3 (1%)	$5,313
2016-17	105 (25%)	$4,429	105 (25%)	$4,372	1 (0%)	$6,000
2017-18	53 (18%)	$4,866	51 (17%)	$4,696	2 (1%)	$9,220
2018-19	146 (41%)	$3,528	146 (41%)	$3,469	2 (1%)	$4,235
2019-20	211 (65%)	$3,849	211 (65%)	$3,629	4 (1%)	$11,587
2020-21	63 (22%)	$3,556	61 (21%)	$3,333	3 (1%)	$6,909
2021-22	80 (26%)	$4,128	80 (26%)	$3,916	1 (0%)	$16,952
Average	107 (29.78%)	$4,300	106 (29.44%)	$4,162	3 (1.00%)	$7,542

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Scholarships, Grants, and Loan Trends at LMC

All Undergraduate Students Financial Aid Over Time

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