Such schemes include Aid to Native Americans, Albert E. Wischmeyer Memorial Scholarship, Military Service Recognition Scholarships, and New York State Scholarship for Academic Excellence. As many as 76% of the students at MCC receive some kind of financial aid, shows the latest data. More information regarding the financial assistance schemes can be accessed on MCC’s official financial aid page at http://www.montgomery.edu/financial-aid. At MCC, the total percentage of applicants who receive the Federal Grant stands at 39%. Meanwhile, 68% of the applicants receive the Student Grant and 26% are awarded the Institution Grant, while 39% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,808, the State Grant receivers and Institution Grant beneficiaries get $1,331 and $2,546, respectively. And, for the Pell Grant awardees, the average aid amount is $2,237. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. 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 MCC, an estimated number of 1% of the applicants choose to go for student loans.