It is interesting to note that, every year, around 75% of students at IC receive some kind of financial aid, while the total amount of assistance/loans provided is $536,134. At IC, the total percentage of applicants who receive the Federal Grant stands at 42%. On the other hand, 42% of the candidates get the Student Grant, while 42% receive the Pell Grant. On the other hand, the average aid received by the Pell Grant awardees is $2,710. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At IC, an estimated number of 32% of the applicants choose to go for student loans.