Students can avail of scholarships provided by the university, such as Heriberto Flores Scholarship, MASSGrant Program, NEEBC Scholarship Award, and New England Regional Student Program, if they find educational expenses to be on the higher side. It is interesting to note that, every year, around 92% of students at SSU receive some kind of financial aid, while the total amount of assistance/loans provided is $30,225,034. More information regarding the financial assistance schemes can be accessed on SSU’s official financial aid page at http://www.salemstate.edu/finaid. Notably, a total of 51% of the applicants to Salem State University receive the Federal Grant every year. Meanwhile, 82% of the applicants receive the Student Grant and 70% are awarded the Institution Grant, while 51% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,960, while the same comes to $3,009 for State Grant receivers and $3,025 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,606. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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 Salem State University, the percentage of candidates who opt to avail of student loans is around 80%.