As many as 82% of the students at MCCC get some sort of financial aid, and the total amount of assistance/loans provided is more than $2,740,182 in a year. The total percentage of candidates applying to Monroe County Community College who receive the Federal Grant is 40%. In comparison, 70% of the students are awarded the Student Grant, 46% get the Institution Grant, and 40% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,900, the State Grant receivers and Institution Grant beneficiaries get $2,480 and $1,712, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,720. 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. 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. Every year, around 20% of the applicants to Monroe County Community College opt for student loans.