As many as 98% of the students at MCTC get some sort of financial aid, and the total amount of assistance/loans provided is more than $4,711,657 in a year. At MCTC, the total percentage of applicants who receive the Federal Grant stands at 73%. On the other hand, 97% of the candidates get the Student Grant, 10% receive the Institution Grant, and 73% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,693, while the same comes to $2,187 for State Grant receivers and $2,681 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $3,902. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At MCTC, an estimated number of 26% of the applicants choose to go for student loans.