It is interesting to note that, every year, around 60% of students at GCC receive some kind of financial aid, while the total amount of assistance/loans provided is $221,977. The total percentage of candidates applying to Gem City College who receive the Federal Grant is 53%. In comparison, 53% of the students get the Student Grant, and 53% of the applicants receive the Pell Grant. And, for the Pell Grant awardees, the average aid amount is $4,984. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At GCC, an estimated number of 47% of the applicants choose to go for student loans.