Notably, 80% of the students at Housatonic Community College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $470,427. One can visit HCC's financial aid page at http://www.hcc.commnet.edu/finaid/index.asp for more information. At HCC, the total percentage of applicants who receive the Federal Grant stands at 68%. On the other hand, 78% of the candidates get the Student Grant, 55% receive the Institution Grant, and 68% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,964, and the same stands at $2,690 for State Grant awardees and $683 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,492. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At HCC, an estimated number of 4% of the applicants choose to go for student loans.