Notably, almost all of the university students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $7,592,464. At LRU, the total percentage of applicants who receive the Federal Grant stands at 48%. Meanwhile, 100% of the applicants receive the Student Grant and 100% are awarded the Institution Grant, while 48% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,906, while the same comes to $5,056 for State Grant receivers and $25,735 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,629. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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 LRU, an estimated number of 67% of the applicants choose to go for student loans.