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 $6,240,844. Notably, a total of 32% of the applicants to Loras College receive the Federal Grant every year. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 31% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,590, and the same stands at $5,777 for State Grant awardees and $20,771 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,314. 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. 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 LC, an estimated number of 77% of the applicants choose to go for student loans.