As many as 98% of the students at RIT get some sort of financial aid, and the total amount of assistance/loans provided is more than $49,432,075 in a year. For additional information about financial assistance schemes, one can head over to RIT’s financial aid page at http://www.rit.edu/emcs/financialaid/. At RIT, the total percentage of applicants who receive the Federal Grant stands at 30%. In comparison, 95% of the students are awarded the Student Grant, 94% get the Institution Grant, and 30% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $5,278, the State Grant receivers and Institution Grant beneficiaries get $4,339 and $20,437, respectively. And, for the Pell Grant awardees, the average aid amount is $4,872. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $27,240 per year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $26,816, while those falling in the $48,001-$75,000 income category get $25,859 a year. Those with an annual income level of $75,001-$110,000 would receive $23,769, while candidates with more than $110,000 of family income receive an average federal aid of $16,362. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. 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. Every year, around 69% of the applicants to Rochester Institute of Technology opt for student loans.