Notably, 83% of the students at Macalester College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $5,883,773. More information regarding the financial assistance schemes can be accessed on MC’s official financial aid page at http://www.macalester.edu/financialaid/. Notably, a total of 19% of the applicants to Macalester College receive the Federal Grant every year. In comparison, 78% of the students are awarded the Student Grant, 78% get the Institution Grant, and 19% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $6,073, while the same comes to $5,686 for State Grant receivers and $35,374 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,700. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Those with a family income below $30,000 per annum, would get an average federal aid of $47,196 in a year. The average aid amount stands at $44,878 for an annual family income between $30,001 and $48,000. This amount comes to $49,703 for those who fall under the $48,001-$75,000 family income bracket. On the other hand, the average federal aid stands at $40,013 for those with an annual family income between $75,001 and $110,000, and at $27,209 for an income more than $110,000. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 54% of the applicants to Macalester College opt for student loans.