As many as 88% of the students at MRC get some sort of financial aid, and the total amount of assistance/loans provided is more than $2,083,850 in a year. One can visit MRC's financial aid page at http://www.mesabirange.edu/future-students/financial-aid for more information. The total percentage of candidates applying to Mesabi Range College who receive the Federal Grant is 66%. On the other hand, 74% of the candidates get the Student Grant, while 66% receive the Pell Grant. And, for the Pell Grant awardees, the average aid amount is $4,539. 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. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At MRC, an estimated number of 61% of the applicants choose to go for student loans.