Notably, almost all of the college students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $12,377,067. The total percentage of candidates applying to College of Mount Saint Vincent who receive the Federal Grant is 60%. Meanwhile, 100% of the applicants receive the Student Grant and 100% are awarded the Institution Grant, while 60% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,970, the State Grant receivers and Institution Grant beneficiaries get $4,175 and $24,501, respectively. On the other hand, the average aid received by the Pell Grant awardees is $5,053. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At College of Mount Saint Vincent, the percentage of candidates who opt to avail of student loans is around 77%.