Notably, around 84% of the students at Merced College receive some kind of financial aid every year, official data shows. One can visit MC's financial aid page at http://www.mccd.edu/resources/financialaid/ for more information. Notably, a total of 63% of the applicants to Merced College receive the Federal Grant every year. In comparison, 83% of the students get the Student Grant, and 63% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,807, while the same comes to $2,424 for State Grant receivers and $700 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,091. 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. Candidates are also required to repay these loans within a given period.