Among them are scholarship programs such as Academic Achievement Award, Anibal Excellence Scholarship, Art and Helen Nickless Scholarship, and Auburn Jaycees Education Scholarship. As many as 94% of the students at OU get some sort of financial aid, and the total amount of assistance/loans provided is more than $50,727,061 in a year. More information regarding the financial assistance schemes can be accessed on OU’s official financial aid page at http://www.oakland.edu/financialservices. Notably, a total of 35% of the applicants to Oakland University receive the Federal Grant every year. Meanwhile, 89% of the applicants receive the Student Grant and 88% are awarded the Institution Grant, while 35% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,813, while the same comes to $1,085 for State Grant receivers and $8,291 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,461. 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. 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 Oakland University, the percentage of candidates who opt to avail of student loans is around 50%.