Such schemes include Carnegie Dartlet $10,000 Scholarship, Community Service Scholarship for Multicultural Students, Dr. Allen Smith Memorial Scholarship, and Education Foundation Scholarship. It is interesting to note that almost every student at MVNU receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $7,596,660. The total percentage of candidates applying to Mount Vernon Nazarene University who receive the Federal Grant is 36%. Meanwhile, 100% of the applicants receive the Student Grant and 99% are awarded the Institution Grant, while 35% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,268, and the same stands at $2,955 for State Grant awardees and $18,682 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,077. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. 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. Candidates are also required to repay these loans within a given period. At MVNU, an estimated number of 73% of the applicants choose to go for student loans.