Such schemes include All Iowa Opportunity Foster Care Grant, August & Edna Zahatko Scholarship, Bill & Hilda Macomber Alta Kahl Scholarship, and Governor Terry E. Brandstad Iowa State Fair Scholarship. As many as 88% of the students at ILCC get some sort of financial aid, and the total amount of assistance/loans provided is more than $3,206,156 in a year. At ILCC, the total percentage of applicants who receive the Federal Grant stands at 46%. In comparison, 77% of the students are awarded the Student Grant, 58% get the Institution Grant, and 46% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,938, while the same comes to $2,685 for State Grant receivers and $2,795 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,435. 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. Candidates are also required to repay these loans within a given period. At ILCC, an estimated number of 58% of the applicants choose to go for student loans.