It is interesting to note that, every year, around 94% of students at CIA receive some kind of financial aid, while the total amount of assistance/loans provided is $3,495,344. More information regarding the financial assistance schemes can be accessed on CIA’s official financial aid page at http://calarts.edu/financial-aid. The total percentage of candidates applying to California Institute of the Arts who receive the Federal Grant is 23%. Meanwhile, 94% of the applicants receive the Student Grant and 94% are awarded the Institution Grant, while 23% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,302, and the same stands at $7,521 for State Grant awardees and $14,221 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $5,153. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $28,863 per year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $22,086, while those falling in the $48,001-$75,000 income category get $21,172 a year. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $22,714. And, for those with a family income of more than $110,000, the amount stands at $13,362. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 54% of the applicants to California Institute of the Arts opt for student loans.