Students can avail of scholarships provided by the college, such as Carnegie Dartlet $10,000 Scholarship, Community Service Scholarship for Multicultural Students, Eva Albee Kelley Scholarship, and Maine Difference Scholarship, if they find educational expenses to be on the higher side. Notably, 98% of the students at Saint Joseph's College of Maine get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $6,281,696. The total percentage of candidates applying to Saint Joseph's College of Maine who receive the Federal Grant is 33%. Meanwhile, 97% of the applicants receive the Student Grant and 97% are awarded the Institution Grant, while 33% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,866, the State Grant receivers and Institution Grant beneficiaries get $1,472 and $21,543, respectively. And, for the Pell Grant awardees, the average aid amount is $4,212. 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. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At SJCM, an estimated number of 84% of the applicants choose to go for student loans.