It is interesting to note that, every year, around 99% of students at EC receive some kind of financial aid, while the total amount of assistance/loans provided is $6,077,859. The total percentage of candidates applying to Edgewood College who receive the Federal Grant is 35%. On the other hand, 97% of the candidates get the Student Grant, 96% receive the Institution Grant, and 33% get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,351, the State Grant receivers and Institution Grant beneficiaries get $3,204 and $13,618, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,127. 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. 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 Edgewood College, the percentage of candidates who opt to avail of student loans is around 71%.