$6.71 million in financial aid was awarded in 2016-2017. $3.7 million of this amount was "free money" to students, given in the form of grants/scholarships.
94% of students who completed a FAFSA, received a financial aid award letter, and enrolled at ICC received payment from some type of financial aid. On average, each aid applicant who attended and accepted their aid package received a combination of gift, work-study, and loan aid totaling $8,700.
ICC awards a higher percentage of gift aid than other public/for-profit Minnesota schools according to a Minnesota Office of Higher Education study for FY15 published in August 2016. ICC students will be able to complete their first one or two years of school with more gift aid and less borrowing than students attending most other schools.
|All Minnesota Schools||49%||50%||1%|
|Minnesota State Two-Year Schools||41%||57%||2%|
|Minnesota State Four-Year Universities||33%||65%||2%|
|Private Four-Year Schools (Not for Profit)||65%||34%||1%|
|Private For-Profit Schools||34%||66%||0%|
|University of Minnesota||46%||53%||1%|
The Blandin Foundation provides annual funding for seven different financial aid programs. There is $395,000 available to award during the 2018-2019 school year to ICC students.