It is interesting to note that, every year, around 98% of students at EC receive some kind of financial aid, while the total amount of assistance/loans provided is $672,567. At EC, the total percentage of applicants who receive the Federal Grant stands at 63%. Meanwhile, 98% of the applicants receive the Student Grant and 95% are awarded the Institution Grant, while 46% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,404, the State Grant receivers and Institution Grant beneficiaries get $875 and $6,199, respectively. And, for the Pell Grant awardees, the average aid amount is $4,539. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At EC, an estimated number of 51% of the applicants choose to go for student loans.