It is interesting to note that, every year, around 98% of students at OSUIT receive some kind of financial aid, while the total amount of assistance/loans provided is $6,526,190. More information regarding the financial assistance schemes can be accessed on OSUIT’s official financial aid page at http://www.osuit.edu/admissions/financial_services/. At OSUIT, the total percentage of applicants who receive the Federal Grant stands at 57%. Meanwhile, 97% of the applicants receive the Student Grant and 92% are awarded the Institution Grant, while 57% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,783, the State Grant receivers and Institution Grant beneficiaries get $3,429 and $1,522, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,104. 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. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 53% of the applicants to Oklahoma State University Institute of Technology opt for student loans.