Among them are scholarship programs such as Academic Scholarship, Carnegie Dartlet $10,000 Scholarship, Christa McAuliffe Scholarship, and Community Service Scholarship for Multicultural Students. It is interesting to note that almost every student at MC receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $6,420,112. Notably, a total of 34% of the applicants to McDaniel College receive the Federal Grant every year. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 34% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,085, while the same comes to $7,026 for State Grant receivers and $34,006 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,774. 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. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At McDaniel College, the percentage of candidates who opt to avail of student loans is around 92%.