Students can avail of scholarships provided by the university, such as Carnegie Dartlet $10,000 Scholarship, Christa McAuliffe Scholarship, Community Service Scholarship for Multicultural Students, and Developmental Disabilities, Mental Health, Child Welfare, and Juvenile Justice Workforce Tuition Assistance Program, if they find educational expenses to be on the higher side. Notably, 93% of the students at Loyola University Maryland get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $13,400,057. Notably, a total of 15% of the applicants to Loyola University Maryland receive the Federal Grant every year. In comparison, 91% of the students are awarded the Student Grant, 90% get the Institution Grant, and 15% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,097, and the same stands at $7,191 for State Grant awardees and $26,907 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,437. 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. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 55% of the applicants to Loyola University Maryland opt for student loans.