It is interesting to note that, every year, around 49% of students at PCP receive some kind of financial aid, while the total amount of assistance/loans provided is $2,997,232. One can visit PCP's financial aid page at http://www.pierce.ctc.edu/financial-aid for more information. At PCP, the total percentage of applicants who receive the Federal Grant stands at 28%. In comparison, 34% of the students are awarded the Student Grant, 8% get the Institution Grant, and 28% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,194, the State Grant receivers and Institution Grant beneficiaries get $3,295 and $2,122, respectively. And, for the Pell Grant awardees, the average aid amount is $4,020. 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. 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 PCP, an estimated number of 16% of the applicants choose to go for student loans.