Notably, 56% of the students at Boston College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $17,364,497. Notably, a total of 14% of the applicants to Boston College receive the Federal Grant every year. Meanwhile, 44% of the applicants receive the Student Grant and 44% are awarded the Institution Grant, while 13% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $7,579, the State Grant receivers and Institution Grant beneficiaries get $1,306 and $42,294, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,900. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. Every year, around 39% of the applicants to Boston College opt for student loans.