Students can avail of scholarships provided by the college, such as Aid to Native Americans, Albert E. Wischmeyer Memorial Scholarship, Military Service Recognition Scholarships, and New York State Scholarship for Academic Excellence, if they find educational expenses to be on the higher side. As many as 89% of the students at CMEC get some sort of financial aid, and the total amount of assistance/loans provided is more than $6,378,990 in a year. One can visit CMEC's financial aid page at https://ares.mec.cuny.edu/admissions/registrars-office/ for more information. Notably, a total of 78% of the applicants to CUNY Medgar Evers College receive the Federal Grant every year. Meanwhile, 87% of the applicants receive the Student Grant and 25% are awarded the Institution Grant, while 78% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,867, and the same stands at $4,544 for State Grant awardees and $319 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,844. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. Every year, around 8% of the applicants to CUNY Medgar Evers College opt for student loans.