Such schemes include NEEBC Scholarship Award. Notably, 99% of the students at New England College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $11,591,358. The total percentage of candidates applying to New England College who receive the Federal Grant is 52%. In comparison, 98% of the students are awarded the Student Grant, 95% get the Institution Grant, and 52% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,269, while the same comes to $1,752 for State Grant receivers and $22,323 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,375. 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. 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 New England College, the percentage of candidates who opt to avail of student loans is around 85%.