As many as 70% of the students at SU get some sort of financial aid, and the total amount of assistance/loans provided is more than $4,442,630 in a year. Notably, a total of 55% of the applicants to Salem University receive the Federal Grant every year. Meanwhile, 58% of the applicants receive the Student Grant and 35% are awarded the Institution Grant, while 55% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,553, and the same stands at $2,819 for State Grant awardees and $11,963 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $5,110. 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. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 63% of the applicants to Salem University opt for student loans.