As many as 63% of the students at SIC get some sort of financial aid, and the total amount of assistance/loans provided is more than $3,942,263 in a year. At SIC, the total percentage of applicants who receive the Federal Grant stands at 56%. On the other hand, 56% of the candidates get the Student Grant, 18% receive the Institution Grant, and 41% get the Pell Grant. While the Federal Grant awardees receive an average aid of $3,384, the State Grant receivers and Institution Grant beneficiaries get $1,213 and $2,989, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,445. 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. 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. Every year, around 16% of the applicants to Southwestern Illinois College opt for student loans.