Notably, 87% of the students at Minnesota State Community and Technical College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $12,353,583. One can visit MSCTC's financial aid page at http://www.minnesota.edu for more information. At MSCTC, the total percentage of applicants who receive the Federal Grant stands at 50%. Meanwhile, 62% of the applicants receive the Student Grant and 4% are awarded the Institution Grant, while 50% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,258, the State Grant receivers and Institution Grant beneficiaries get $1,598 and $1,427, respectively. And, for the Pell Grant awardees, the average aid amount is $3,511. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. Every year, around 55% of the applicants to Minnesota State Community and Technical College opt for student loans.