It is interesting to note that, every year, around 93% of students at MSUM receive some kind of financial aid, while the total amount of assistance/loans provided is $17,323,219. For additional information about financial assistance schemes, one can head over to MSUM’s financial aid page at http://www.mnstate.edu/financialaid/. The total percentage of candidates applying to Minnesota State University Moorhead who receive the Federal Grant is 29%. In comparison, 78% of the students are awarded the Student Grant, 63% get the Institution Grant, and 29% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,796, the State Grant receivers and Institution Grant beneficiaries get $3,048 and $2,201, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,037. 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. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Candidates are also required to repay these loans within a given period. Every year, around 70% of the applicants to Minnesota State University Moorhead opt for student loans.