As many as 55% of the students at MCCC get some sort of financial aid, and the total amount of assistance/loans provided is more than $2,983,628 in a year. More information regarding the financial assistance schemes can be accessed on MCCC’s official financial aid page at http://www.mccc.edu/admissions_financial.shtml. At MCCC, the total percentage of applicants who receive the Federal Grant stands at 44%. On the other hand, 54% of the candidates get the Student Grant, 5% receive the Institution Grant, and 44% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,916, and the same stands at $2,280 for State Grant awardees and $1,572 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,590. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At MCCC, an estimated number of 9% of the applicants choose to go for student loans.