Such schemes include Anthony Munoz Foundation Scholarship Fund, Chick Evans Caddie Scholarship, Dr. Allen Smith Memorial Scholarship, and Education Foundation Scholarship. It is interesting to note that, every year, around 82% of students at MUO receive some kind of financial aid, while the total amount of assistance/loans provided is $35,878,021. The total percentage of candidates applying to Miami University-Oxford who receive the Federal Grant is 15%. Meanwhile, 72% of the applicants receive the Student Grant and 70% are awarded the Institution Grant, while 13% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,914, while the same comes to $1,454 for State Grant receivers and $11,092 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,506. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. 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 Miami University-Oxford, the percentage of candidates who opt to avail of student loans is around 40%.