It is interesting to note that, every year, around 86% of students at COTC receive some kind of financial aid, while the total amount of assistance/loans provided is $4,299,040. The total percentage of candidates applying to Central Ohio Technical College who receive the Federal Grant is 57%. Meanwhile, 63% of the applicants receive the Student Grant and 22% are awarded the Institution Grant, while 57% of the students get the Pell Grant. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,743. 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. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Central Ohio Technical College, the percentage of candidates who opt to avail of student loans is around 41%.