Notably, almost all of the college students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $11,766,045. For additional information about financial assistance schemes, one can head over to IC’s financial aid page at http://www.iona.edu/Student-Life/Student-Financial-Services. The total percentage of candidates applying to Iona College who receive the Federal Grant is 40%. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 40% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $5,404, the State Grant receivers and Institution Grant beneficiaries get $3,746 and $19,850, respectively. And, for the Pell Grant awardees, the average aid amount is $4,726. 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. Students whose family income per annum is less than $30,000 will receive a federal aid of $27,289 on average in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $25,695, while those falling in the $48,001-$75,000 income category get $22,617 a year. Those with an annual income level of $75,001-$110,000 would receive $20,258, while candidates with more than $110,000 of family income receive an average federal aid of $19,545. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At IC, an estimated number of 68% of the applicants choose to go for student loans.