As many as 98% of the students at MAC get some sort of financial aid, and the total amount of assistance/loans provided is more than $2,413,864 in a year. For additional information about financial assistance schemes, one can head over to MAC’s financial aid page at http://www.mineralarea.edu/students/admissionInformation/financialAssistance/. At MAC, the total percentage of applicants who receive the Federal Grant stands at 58%. In comparison, 93% of the students are awarded the Student Grant, 19% get the Institution Grant, and 58% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,857, and the same stands at $2,174 for State Grant awardees and $4,897 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,292. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At MAC, an estimated number of 17% of the applicants choose to go for student loans.