It is interesting to note that, every year, around 73% of students at IC receive some kind of financial aid. One can visit IC's financial aid page at http://www.ilisagvik.edu/departments/financial-aid/ for more information. At IC, the total percentage of applicants who receive the Federal Grant stands at 27%. On the other hand, 73% of the candidates get the Student Grant, 15% receive the Institution Grant, and 27% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $6,188, while the same comes to $2,818 for State Grant receivers and $2,311 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $3,681. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. 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.