Among them are scholarship programs such as Montreat College - Tuition Waiver Exchange Program, North Carolina Student Incentive Grant, and Triangle Scholarship Program. 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 $4,997,181. Notably, a total of 41% of the applicants to Montreat College receive the Federal Grant every year. On the other hand, 100% of the candidates get the Student Grant, 100% receive the Institution Grant, and 41% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,697, while the same comes to $4,817 for State Grant receivers and $12,593 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,418. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. 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. Every year, around 95% of the applicants to Montreat College opt for student loans.