Notably, 99% of the students at Minneapolis College of Art and Design get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $3,693,569. One can visit MCAD's financial aid page at http://mcad.edu/financial-aid for more information. Notably, a total of 39% of the applicants to Minneapolis College of Art and Design receive the Federal Grant every year. In comparison, 99% of the students are awarded the Student Grant, 99% get the Institution Grant, and 39% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,621, the State Grant receivers and Institution Grant beneficiaries get $4,966 and $19,012, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,476. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. Students whose family income per annum is less than $30,000 will receive a federal aid of $24,838 on average in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $24,407 and $23,279, respectively. Those with an annual income level of $75,001-$110,000 would receive $20,277, while candidates with more than $110,000 of family income receive an average federal aid of $17,020. 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. Candidates are also required to repay these loans within a given period. At Minneapolis College of Art and Design, the percentage of candidates who opt to avail of student loans is around 97%.