Notably, 79% of the students at Peninsula College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $1,423,522. Notably, a total of 49% of the applicants to Peninsula College receive the Federal Grant every year. In comparison, 67% of the students are awarded the Student Grant, 44% get the Institution Grant, and 49% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,382, while the same comes to $3,093 for State Grant receivers and $2,384 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,960. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. 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 12% of the applicants to Peninsula College opt for student loans.