As many as 92% of the students at MWCTC get some sort of financial aid, and the total amount of assistance/loans provided is more than $4,770,888 in a year. One can visit MWCTC's financial aid page at http://www.mnwest.edu/financial-aid/ for more information. At MWCTC, the total percentage of applicants who receive the Federal Grant stands at 62%. In comparison, 71% of the students are awarded the Student Grant, 2% get the Institution Grant, and 62% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,705, the State Grant receivers and Institution Grant beneficiaries get $1,716 and $341, respectively. And, for the Pell Grant awardees, the average aid amount is $3,939. 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. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At MWCTC, an estimated number of 62% of the applicants choose to go for student loans.