Notably, 64% of the students at Massachusetts Bay Community College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $2,258,375. Notably, a total of 40% of the applicants to Massachusetts Bay Community College receive the Federal Grant every year. Meanwhile, 53% of the applicants receive the Student Grant and 3% are awarded the Institution Grant, while 40% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,777, the State Grant receivers and Institution Grant beneficiaries get $1,404 and $1,225, respectively. And, for the Pell Grant awardees, the average aid amount is $3,771. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At MBCC, an estimated number of 21% of the applicants choose to go for student loans.