It is interesting to note that, every year, around 99% of students at OU receive some kind of financial aid, while the total amount of assistance/loans provided is $6,695,114. At OU, the total percentage of applicants who receive the Federal Grant stands at 40%. Meanwhile, 99% of the applicants receive the Student Grant and 99% are awarded the Institution Grant, while 40% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,411, while the same comes to $4,627 for State Grant receivers and $24,939 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $5,035. 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. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. However, student loans attract a certain rate of interest at which the funds are borrowed. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At OU, an estimated number of 62% of the applicants choose to go for student loans.