Such schemes include AWA Scholarship Awards, CCNMA Scholarship, Cal Grant A, and Cal Grant B. As many as 71% of the students at MPC get some sort of financial aid, and the total amount of assistance/loans provided is more than $735,980 in a year. More information regarding the financial assistance schemes can be accessed on MPC’s official financial aid page at http://www.mpc.edu/financial-aid. The total percentage of candidates applying to Monterey Peninsula College who receive the Federal Grant is 38%. Meanwhile, 69% of the applicants receive the Student Grant, while 38% of the students get the Pell Grant. On the other hand, the average aid received by the Pell Grant awardees is $3,861. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At Monterey Peninsula College, the percentage of candidates who opt to avail of student loans is around 2%.