It is interesting to note that, every year, around 82% of students at LU receive some kind of financial aid, while the total amount of assistance/loans provided is $28,147,171. At LU, the total percentage of applicants who receive the Federal Grant stands at 48%. On the other hand, 75% of the candidates get the Student Grant, 18% receive the Institution Grant, and 48% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,145, and the same stands at $5,365 for State Grant awardees and $4,105 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,705. 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. 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 LU, an estimated number of 44% of the applicants choose to go for student loans.