It is interesting to note that almost every student at MC receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $6,258,171. The total percentage of candidates applying to Morningside College who receive the Federal Grant is 43%. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 39% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,481, and the same stands at $5,178 for State Grant awardees and $18,218 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,094. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Morningside College, the percentage of candidates who opt to avail of student loans is around 80%.