Such schemes include ASTA Northern California Chapter - Richard Epping Scholarship, AWA Scholarship Awards, CCNMA Scholarship, and Cal Grant A. It is interesting to note that, every year, around 81% of students at CSUMB receive some kind of financial aid, while the total amount of assistance/loans provided is $13,876,110. At CSUMB, the total percentage of applicants who receive the Federal Grant stands at 48%. In comparison, 74% of the students are awarded the Student Grant, 47% get the Institution Grant, and 48% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,410, and the same stands at $2,736 for State Grant awardees and $5,705 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,613. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Candidates are also required to repay these loans within a given period. Every year, around 45% of the applicants to California State University-Monterey Bay opt for student loans.