Students can avail of scholarships provided by the college, such as Barbara J. Penny Community Service Scholarship, Timothy J. Penny Federal Public Service Fellowship, and Timothy J. Penny State Public Service Fellowship, if they find educational expenses to be on the higher side. Notably, 75% of the students at Anoka-Ramsey Community College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $11,287,124. More information regarding the financial assistance schemes can be accessed on ARCC’s official financial aid page at http://www.anokaramsey.edu/cost-aid/apply-for-aid/. At ARCC, the total percentage of applicants who receive the Federal Grant stands at 47%. In comparison, 56% of the students are awarded the Student Grant, 6% get the Institution Grant, and 47% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,309, while the same comes to $860 for State Grant receivers and $1,155 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,330. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Anoka-Ramsey Community College, the percentage of candidates who opt to avail of student loans is around 31%.