Notably, around 55% of the students at Lake Technical College receive some kind of financial aid every year, official data shows. For additional information about financial assistance schemes, one can head over to LTC’s financial aid page at http://www.laketech.org/financial-aid. At LTC, the total percentage of applicants who receive the Federal Grant stands at 34%. In comparison, 53% of the students are awarded the Student Grant, 5% get the Institution Grant, and 34% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $3,657, while the same comes to $1,458 for State Grant receivers and $835 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,469. 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. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period.