Such schemes include Boettcher Foundation Scholarship, Colorado Ski Authority Annual Scholarship, and Freeport-McMoRan Copper & Gold Foundation Scholarship. As many as 88% of the students at CSM get some sort of financial aid, and the total amount of assistance/loans provided is more than $12,755,307 in a year. The total percentage of candidates applying to Colorado School of Mines who receive the Federal Grant is 12%. Meanwhile, 81% of the applicants receive the Student Grant and 81% are awarded the Institution Grant, while 12% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,663, the State Grant receivers and Institution Grant beneficiaries get $3,027 and $10,852, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,551. 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. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At Colorado School of Mines, the percentage of candidates who opt to avail of student loans is around 41%.