As many as 99% of the students at HC get some sort of financial aid, and the total amount of assistance/loans provided is more than $4,401,585 in a year. More information regarding the financial assistance schemes can be accessed on HC’s official financial aid page at http://www.houghton.edu/financial-aid/. At HC, the total percentage of applicants who receive the Federal Grant stands at 51%. On the other hand, 98% of the candidates get the Student Grant, 92% receive the Institution Grant, and 51% get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,490, the State Grant receivers and Institution Grant beneficiaries get $2,975 and $17,371, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,248. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Students whose family income per annum is less than $30,000 will receive a federal aid of $21,135 on average in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $24,076, while those falling in the $48,001-$75,000 income category get $25,857 a year. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $22,729. And, for those with a family income of more than $110,000, the amount stands at $21,318. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At HC, an estimated number of 66% of the applicants choose to go for student loans.