Notably, 96% of the students at Molloy College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $16,459,336. More information regarding the financial assistance schemes can be accessed on MC’s official financial aid page at http://www.molloy.edu/admissions/financial-aid. At MC, the total percentage of applicants who receive the Federal Grant stands at 28%. On the other hand, 95% of the candidates get the Student Grant, 93% receive the Institution Grant, and 26% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $6,211, while the same comes to $2,575 for State Grant receivers and $14,290 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,275. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $18,034 per year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $18,777, while those falling in the $48,001-$75,000 income category get $15,967 a year. Those with an annual income level of $75,001-$110,000 would receive $14,463, while candidates with more than $110,000 of family income receive an average federal aid of $12,207. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Molloy College, the percentage of candidates who opt to avail of student loans is around 65%.