Interestingly, almost all of the students at EBIC receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $381,477 in a year. For additional information about financial assistance schemes, one can head over to EBIC’s financial aid page at http://www.elim.edu/programs/paying-for-school/aid/. Notably, a total of 70% of the applicants to Elim Bible Institute and College receive the Federal Grant every year. In comparison, 100% of the students are awarded the Student Grant, 77% get the Institution Grant, and 70% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,730, and the same stands at $3,316 for State Grant awardees and $2,446 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,893. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Those with a family income below $30,000 per annum, would get an average federal aid of $6,438 in a year. The average aid amount stands at $10,740 for an annual family income between $30,001 and $48,000. This amount comes to $4,341 for those who fall under the $48,001-$75,000 family income bracket. Those with an annual income level of $75,001-$110,000 would receive $1,891, while candidates with more than $110,000 of family income receive an average federal aid of $200. 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 EBIC, an estimated number of 50% of the applicants choose to go for student loans.