It is interesting to note that, every year, around 88% of students at STCC receive some kind of financial aid. For additional information about financial assistance schemes, one can head over to STCC’s financial aid page at http://www.sowela.edu/admissions/financial-aid. At STCC, the total percentage of applicants who receive the Federal Grant stands at 61%. On the other hand, 87% of the candidates get the Student Grant, 15% receive the Institution Grant, and 61% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,111, while the same comes to $2,612 for State Grant receivers and $1,191 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,733. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 3% of the applicants to SOWELA Technical Community College opt for student loans.