It is interesting to note that almost every student at RCLI receives some kind of financial aid. Notably, a total of 43% of the applicants to Rabbinical College of Long Island receive the Federal Grant every year. In comparison, 100% of the students are awarded the Student Grant, 91% get the Institution Grant, and 43% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,767, and the same stands at $1,883 for State Grant awardees and $4,560 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $5,183. 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. Candidates are also required to repay these loans within a given period.