Notably, 98% of the students at Utica College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $28,064,710. The total percentage of candidates applying to Utica College who receive the Federal Grant is 44%. Meanwhile, 94% of the applicants receive the Student Grant and 89% are awarded the Institution Grant, while 44% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,576, the State Grant receivers and Institution Grant beneficiaries get $3,485 and $7,087, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,441. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. 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. At UC, an estimated number of 80% of the applicants choose to go for student loans.