Students can avail of scholarships provided by the college, such as Air Force ROTC Scholarship, American Field Service (AFS) Returnee Scholarship, Army ROTC Scholarship, and Bonner Service Scholarship, if they find educational expenses to be on the higher side. It is interesting to note that, every year, around 96% of students at RC receive some kind of financial aid, while the total amount of assistance/loans provided is $4,002,914. Notably, a total of 13% of the applicants to Rhodes College receive the Federal Grant every year. Meanwhile, 95% of the applicants receive the Student Grant and 93% are awarded the Institution Grant, while 13% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $6,381, while the same comes to $4,671 for State Grant receivers and $30,345 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,859. 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. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At Rhodes College, the percentage of candidates who opt to avail of student loans is around 42%.