Such schemes include Aid to Native Americans, Albert E. Wischmeyer Memorial Scholarship, Allan Eisenkraft Scholarship, and Alumni Lifetime Scholarship. It is interesting to note that, every year, around 87% of students at CCC receive some kind of financial aid, while the total amount of assistance/loans provided is $8,816,582. More information regarding the financial assistance schemes can be accessed on CCC’s official financial aid page at http://www.ccny.cuny.edu/financialaid. The total percentage of candidates applying to CUNY City College who receive the Federal Grant is 68%. Meanwhile, 84% of the applicants receive the Student Grant and 5% are awarded the Institution Grant, while 68% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,407, the State Grant receivers and Institution Grant beneficiaries get $5,668 and $5,153, respectively. On the other hand, the average aid received by the Pell Grant awardees is $5,082. 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. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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 CCC, an estimated number of 7% of the applicants choose to go for student loans.