As many as 88% of the students at WC get some sort of financial aid, and the total amount of assistance/loans provided is more than $7,320,867 in a year. The total percentage of candidates applying to Wheaton College who receive the Federal Grant is 24%. Meanwhile, 87% of the applicants receive the Student Grant and 87% are awarded the Institution Grant, while 24% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,607, while the same comes to $4,599 for State Grant receivers and $18,538 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,501. 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. However, student loans attract a certain rate of interest at which the funds are borrowed. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At WC, an estimated number of 52% of the applicants choose to go for student loans.