It is interesting to note that, every year, around 43% of students at MCC receive some kind of financial aid, while the total amount of assistance/loans provided is $1,183,192. One can visit MCC's financial aid page at http://www.mchenry.edu/financialaid for more information. At MCC, the total percentage of applicants who receive the Federal Grant stands at 33%. Meanwhile, 33% of the applicants receive the Student Grant and 1% are awarded the Institution Grant, while 33% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,180, and the same stands at $1,413 for State Grant awardees and $2,140 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,508. 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. However, student loans attract a certain rate of interest at which the funds are borrowed. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At McHenry County College, the percentage of candidates who opt to avail of student loans is around 7%.