As many as 81% of the students at NCMC get some sort of financial aid, and the total amount of assistance/loans provided is more than $1,120,427 in a year. At NCMC, the total percentage of applicants who receive the Federal Grant stands at 55%. In comparison, 75% of the students are awarded the Student Grant, 31% get the Institution Grant, and 55% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,367, the State Grant receivers and Institution Grant beneficiaries get $3,929 and $3,170, respectively. And, for the Pell Grant awardees, the average aid amount is $3,274. 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. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund 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. Every year, around 18% of the applicants to North Central Michigan College opt for student loans.