As many as 83% of the students at HCCC get some sort of financial aid, and the total amount of assistance/loans provided is more than $4,673,689 in a year. Notably, a total of 59% of the applicants to Herkimer County Community College receive the Federal Grant every year. Meanwhile, 76% of the applicants receive the Student Grant and 13% are awarded the Institution Grant, while 59% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,013, the State Grant receivers and Institution Grant beneficiaries get $3,030 and $1,032, respectively. And, for the Pell Grant awardees, the average aid amount is $4,193. 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. 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. Candidates are also required to repay these loans within a given period. At HCCC, an estimated number of 49% of the applicants choose to go for student loans.