It is interesting to note that almost every student at MC receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $10,655,259. At MC, the total percentage of applicants who receive the Federal Grant stands at 31%. On the other hand, 100% of the candidates get the Student Grant, 99% receive the Institution Grant, and 30% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,595, while the same comes to $2,369 for State Grant receivers and $13,458 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,448. 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. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Candidates are also required to repay these loans within a given period. At MC, an estimated number of 43% of the applicants choose to go for student loans.