Notably, 95% of the students at Morehouse College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $9,670,051. Notably, a total of 49% of the applicants to Morehouse College receive the Federal Grant every year. Meanwhile, 81% of the applicants receive the Student Grant and 53% are awarded the Institution Grant, while 49% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,988, while the same comes to $3,150 for State Grant receivers and $23,504 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $5,005. 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. 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. Every year, around 61% of the applicants to Morehouse College opt for student loans.