Among them are scholarship programs such as Franklin W. Olin College of Engineering - MASSGrant, Franklin W. Olin College of Engineering - National Merit Scholarship, Franklin W. Olin College of Engineering - One Family Scholarship Program, and Franklin W. Olin College of Engineering - Part-Time Grant. Interestingly, almost all of the students at FWOCE receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $548,795 in a year. More information regarding the financial assistance schemes can be accessed on FWOCE’s official financial aid page at http://www.olin.edu/admission/costs-financial-aid/. The total percentage of candidates applying to Franklin W Olin College of Engineering who receive the Federal Grant is 14%. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 14% of the applicants receive the Pell Grant. On the other hand, the average aid received by the Pell Grant awardees is $4,764. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $67,718 per year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $56,888 and $56,026, respectively. Those with an annual income level of $75,001-$110,000 would receive $40,883, while candidates with more than $110,000 of family income receive an average federal aid of $27,937. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. 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 Franklin W Olin College of Engineering, the percentage of candidates who opt to avail of student loans is around 30%.