Notably, 88% of the students at Minnesota State University-Mankato get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $39,665,821. More information regarding the financial assistance schemes can be accessed on MSUM’s official financial aid page at http://mnsu.edu/campushub. The total percentage of candidates applying to Minnesota State University-Mankato who receive the Federal Grant is 27%. In comparison, 59% of the students are awarded the Student Grant, 29% get the Institution Grant, and 27% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,741, while the same comes to $2,900 for State Grant receivers and $3,153 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,131. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Candidates are also required to repay these loans within a given period. At Minnesota State University-Mankato, the percentage of candidates who opt to avail of student loans is around 64%.