As many as 98% of the students at MVSU get some sort of financial aid, and the total amount of assistance/loans provided is more than $11,556,921 in a year. At MVSU, the total percentage of applicants who receive the Federal Grant stands at 85%. On the other hand, 95% of the candidates get the Student Grant, 38% receive the Institution Grant, and 84% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $6,414, while the same comes to $2,646 for State Grant receivers and $6,476 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $5,247. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At MVSU, an estimated number of 95% of the applicants choose to go for student loans.