Notably, almost all of the college students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $3,739,558. For additional information about financial assistance schemes, one can head over to HC’s financial aid page at http://www.hendrix.edu/financialaid. At HC, the total percentage of applicants who receive the Federal Grant stands at 30%. Meanwhile, 100% of the applicants receive the Student Grant and 100% are awarded the Institution Grant, while 30% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,296, the State Grant receivers and Institution Grant beneficiaries get $3,552 and $38,453, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,518. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $42,156 per year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $41,153, while those falling in the $48,001-$75,000 income category get $39,395 a year. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $35,238. And, for those with a family income of more than $110,000, the amount stands at $31,347. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 43% of the applicants to Hendrix College opt for student loans.