As many as 87% of the students at GCC get some sort of financial aid, and the total amount of assistance/loans provided is more than $1,207,776 in a year. More information regarding the financial assistance schemes can be accessed on GCC’s official financial aid page at http://www.gogebic.edu/financial_aid/financialaid.html. The total percentage of candidates applying to Gogebic Community College who receive the Federal Grant is 60%. On the other hand, 76% of the candidates get the Student Grant, 30% receive the Institution Grant, and 58% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,396, while the same comes to $3,415 for State Grant receivers and $1,350 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,912. 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. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. At GCC, an estimated number of 36% of the applicants choose to go for student loans.