Students can avail of scholarships provided by the college, such as Heriberto Flores Scholarship, MASSGrant Program, Massachusetts College of Art and Design - MASSGrant, and Massachusetts College of Art and Design - One Family Scholarship Program, if they find educational expenses to be on the higher side. As many as 96% of the students at MCAD get some sort of financial aid, and the total amount of assistance/loans provided is more than $10,443,000 in a year. One can visit MCAD's financial aid page at http://massart.edu/Admissions/Financial_Aid.html for more information. At MCAD, the total percentage of applicants who receive the Federal Grant stands at 30%. Meanwhile, 93% of the applicants receive the Student Grant and 90% are awarded the Institution Grant, while 30% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,855, the State Grant receivers and Institution Grant beneficiaries get $1,972 and $4,413, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,705. 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. 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. At MCAD, an estimated number of 64% of the applicants choose to go for student loans.