Such schemes include Carnegie Dartlet $10,000 Scholarship, Catholic High School Scholarship, Community Service Scholarship for Multicultural Students, and Diosecan Scholarship. It is interesting to note that almost every student at COLE receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $7,846,761. At COLE, the total percentage of applicants who receive the Federal Grant stands at 40%. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 40% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,218, and the same stands at $2,103 for State Grant awardees and $22,275 for Institution Grant recipients. And, for the Pell Grant awardees, the average aid amount is $4,855. 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. At College of Our Lady of the Elms, the percentage of candidates who opt to avail of student loans is around 86%.