It is interesting to note that, every year, around 86% of students at CCC receive some kind of financial aid, while the total amount of assistance/loans provided is $1,860,991. For additional information about financial assistance schemes, one can head over to CCC’s financial aid page at http://www.colbycc.edu/students/financial-aid/index. At CCC, the total percentage of applicants who receive the Federal Grant stands at 38%. On the other hand, 86% of the candidates get the Student Grant, 62% receive the Institution Grant, and 36% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,965, and the same stands at $2,031 for State Grant awardees and $3,055 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,745. 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. 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 CCC, an estimated number of 30% of the applicants choose to go for student loans.