Notably, 98% of the students at Howard Payne University get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $3,770,665. The total percentage of candidates applying to Howard Payne University who receive the Federal Grant is 33%. Meanwhile, 83% of the applicants receive the Student Grant and 83% are awarded the Institution Grant, while 33% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,027, the State Grant receivers and Institution Grant beneficiaries get $3,301 and $12,815, respectively. And, for the Pell Grant awardees, the average aid amount is $4,808. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. Every year, around 65% of the applicants to Howard Payne University opt for student loans.