Students can avail of scholarships provided by the college, such as Aid to Native Americans, Albert E. Wischmeyer Memorial Scholarship, Benjamin Namm Distinguished Scholars Scholarship, and Benjamin Namm Memorial Scholarship, if they find educational expenses to be on the higher side. It is interesting to note that, every year, around 85% of students at CNYCCT receive some kind of financial aid, while the total amount of assistance/loans provided is $6,423,694. One can visit CNYCCT's financial aid page at http://www.citytech.cuny.edu/financial-aid/ for more information. Notably, a total of 71% of the applicants to CUNY New York City College of Technology receive the Federal Grant every year. Meanwhile, 83% of the applicants receive the Student Grant, while 71% of the students get the Pell Grant. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,654. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Candidates are also required to repay these loans within a given period. At CNYCCT, an estimated number of 3% of the applicants choose to go for student loans.