It is interesting to note that, every year, around 78% of students at TC receive some kind of financial aid, while the total amount of assistance/loans provided is $6,721,868. More information regarding the financial assistance schemes can be accessed on TC’s official financial aid page at http://www.templejc.edu/admissions/financial-aid/. The total percentage of candidates applying to Temple College who receive the Federal Grant is 54%. Meanwhile, 62% of the applicants receive the Student Grant and 8% are awarded the Institution Grant, while 54% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,568, the State Grant receivers and Institution Grant beneficiaries get $2,344 and $4,874, respectively. And, for the Pell Grant awardees, the average aid amount is $5,029. 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. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At TC, an estimated number of 27% of the applicants choose to go for student loans.