Notably, almost all of the college students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $2,730,536. For additional information about financial assistance schemes, one can head over to MC’s financial aid page at http://mitchell.edu/cost-and-aid/. At MC, the total percentage of applicants who receive the Federal Grant stands at 52%. In comparison, 100% of the students are awarded the Student Grant, 95% get the Institution Grant, and 52% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,545, while the same comes to $2,047 for State Grant receivers and $17,310 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,273. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Students whose family income per annum is less than $30,000 will receive a federal aid of $28,277 on average in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $25,210, while those falling in the $48,001-$75,000 income category get $21,282 a year. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $18,307. And, for those with a family income of more than $110,000, the amount stands at $13,182. 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. Every year, around 75% of the applicants to Mitchell College opt for student loans.