Such schemes include North Carolina Student Incentive Grant and Triangle Scholarship Program. It is interesting to note that, every year, around 95% of students at LAC receive some kind of financial aid, while the total amount of assistance/loans provided is $984,842. The total percentage of candidates applying to Living Arts College who receive the Federal Grant is 86%. Meanwhile, 93% of the applicants receive the Student Grant and 35% are awarded the Institution Grant, while 86% of the students get the Pell Grant. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,706. 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. However, student loans attract a certain rate of interest at which the funds are borrowed. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At Living Arts College, the percentage of candidates who opt to avail of student loans is around 81%.