It is interesting to note that, every year, around 89% of students at SMC receive some kind of financial aid, while the total amount of assistance/loans provided is $2,245,507. At SMC, the total percentage of applicants who receive the Federal Grant stands at 60%. On the other hand, 85% of the candidates get the Student Grant, 52% receive the Institution Grant, and 60% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,943, and the same stands at $2,993 for State Grant awardees and $2,013 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,907. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. 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. Every year, around 34% of the applicants to Southwestern Michigan College opt for student loans.