Notably, 86% of the students at Ridgewater College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $6,435,448. At RC, the total percentage of applicants who receive the Federal Grant stands at 51%. Meanwhile, 66% of the applicants receive the Student Grant, while 51% of the students get the Pell Grant. On the other hand, the average aid received by the Pell Grant awardees is $3,740. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. 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. Candidates are also required to repay these loans within a given period. Every year, around 43% of the applicants to Ridgewater College opt for student loans.