Students can avail of scholarships provided by the college, such as Aid to Native Americans, Albert E. Wischmeyer Memorial Scholarship, Military Service Recognition Scholarships, and New York State Scholarship for Academic Excellence, if they find educational expenses to be on the higher side. As many as 81% of the students at FMCC get some sort of financial aid, and the total amount of assistance/loans provided is more than $3,060,039 in a year. At FMCC, the total percentage of applicants who receive the Federal Grant stands at 61%. On the other hand, 74% of the candidates get the Student Grant, 8% receive the Institution Grant, and 61% get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,581, the State Grant receivers and Institution Grant beneficiaries get $2,670 and $461, respectively. And, for the Pell Grant awardees, the average aid amount is $4,152. 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. Candidates are also required to repay these loans within a given period. At Fulton-Montgomery Community College, the percentage of candidates who opt to avail of student loans is around 29%.