Students can avail of scholarships provided by the university, such as Merit-Based Scholarships, if they find educational expenses to be on the higher side. Notably, 90% of the students at Longwood University get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $15,147,008. The total percentage of candidates applying to Longwood University who receive the Federal Grant is 31%. Meanwhile, 83% of the applicants receive the Student Grant and 69% are awarded the Institution Grant, while 31% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,491, while the same comes to $4,140 for State Grant receivers and $4,573 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,447. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Longwood University, the percentage of candidates who opt to avail of student loans is around 61%.