Over the past 10 years (2015-2023), the average number of students who received grants aid/scholarships is 921, which is 95.11 % of all undergraduate students. 470 students which is 48.22% of undergraduate students received federal student loans and the average loan amount is $6,376.
For full-time, first-time beginning students (freshmen), 98.67% of students received grants or scholarships and 51% of students received student loans.
The following table shows the trends of financial aid for all undergraduate students at Covenant College since 2014.
For that period, the average number of students who received grants aid/scholarships is 921, which is 95.11 % of all undergraduate students. 470 students which is 48.22% of undergraduate students received federal student loans and the average loan amount is $6,376.
| Year | Grant or Scholarship* | Pell Grants | Federal Student Loans | |||
|---|---|---|---|---|---|---|
| Number Received (percent**) | Average Amount | Number Received (percent**) | Average Amount | Number Received (percent**) | Average Amount | |
| 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 |
| 2022-23 | 800 (94%) | $26,307 | 157 (18%) | $4,635 | 353 (41%) | $6,123 |
| Average | 921 (95.11%) | $21,556 | 223 (22.67%) | $4,250 | 470 (48.22%) | $6,376 |
For the last 10 years, on average, 242 (98.67 % of students) received grants or scholarships and its average amount is $22,717. It can cover 54.04% of tuition & fees ($42,040).
In addition, 126 (51.44 % of students) students get helped from the students loans (average amount : $7,101).
| Year | Grants or Scholarships* | Student Loans | ||
|---|---|---|---|---|
| Number Received (percent**) | Average Amount | Number Received (percent**) | Average Amount | |
| 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 |
| 2022-23 | 234 (98%) | $27,957 | 108 (45%) | $7,534 |
| Average | 242 (98.67%) | $22,717 | 126 (51.44%) | $7,101 |
The following table shows the trends of grants or scholarships over time. For the last 10 years, on average, 60 (24.33 % of students) received Pell (federal) grants and its average amount is $4,116.
In addition, 71 students received State/local government grants/scholarships (29.11 % of students).
| Year | Federal (Pell) Grants | Other Federal | State/Local government | Institutional | ||||
|---|---|---|---|---|---|---|---|---|
| Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | |
| 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 |
| 2022-23 | 55 (23%) | $4,251 | 21 (9%) | $3,771 | 77 (32%) | $5,518 | 230 (97%) | $25,235 |
| Average | 60 (24.33%) | $4,116 | 31 (13.00%) | $3,275 | 71 (29.11%) | $4,539 | 236 (96.44%) | $20,416 |
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, 126 (51.44 % of students) get any students loan help and its average loan amount is $126.
| Year | Total | Federal student loans | Other student loans | |||
|---|---|---|---|---|---|---|
| Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | |
| 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 |
| 2022-23 | 108 (45%) | $7,534 | 105 (44%) | $5,089 | 14 (6%) | $19,951 |
| Average | 126 (51.44%) | $7,101 | 125 (51.11%) | $5,429 | 15 (6.44%) | $13,598 |
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