It is interesting to note that, every year, around 85% of students at MMC receive some kind of financial aid, while the total amount of assistance/loans provided is $6,272,036. At MMC, the total percentage of applicants who receive the Federal Grant stands at 59%. On the other hand, 69% of the candidates get the Student Grant, 14% receive the Institution Grant, and 59% get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,597, the State Grant receivers and Institution Grant beneficiaries get $4,044 and $1,650, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,648. 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 Mid Michigan College, the percentage of candidates who opt to avail of student loans is around 36%.