Students can avail of scholarships provided by the university, such as Aid to Native Americans, Albert E. Wischmeyer Memorial Scholarship, Military Service Recognition Scholarships, and New York State Scholarship for Academic Excellence, if they find educational expenses to be on the higher side. Notably, 51% of the students at Colgate University get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $3,018,246. One can visit CU's financial aid page at http://www.colgate.edu/admission-financial-aid/financial-aid for more information. The total percentage of candidates applying to Colgate University who receive the Federal Grant is 13%. Meanwhile, 42% of the applicants receive the Student Grant and 42% are awarded the Institution Grant, while 13% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $6,072, and the same stands at $4,434 for State Grant awardees and $46,527 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,824. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Those with a family income below $30,000 per annum, would get an average federal aid of $61,653 in a year. The average aid amount stands at $58,348 for an annual family income between $30,001 and $48,000. This amount comes to $52,235 for those who fall under the $48,001-$75,000 family income bracket. Those with an annual income level of $75,001-$110,000 would receive $44,975, while candidates with more than $110,000 of family income receive an average federal aid of $28,522. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. 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 CU, an estimated number of 23% of the applicants choose to go for student loans.