As many as 82% of the students at SUNYNP get some sort of financial aid, and the total amount of assistance/loans provided is more than $22,182,986 in a year. The total percentage of candidates applying to State University of New York at New Paltz who receive the Federal Grant is 40%. In comparison, 66% of the students are awarded the Student Grant, 64% get the Institution Grant, and 40% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,345, and the same stands at $4,539 for State Grant awardees and $2,066 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,796. 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. 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. At SUNYNP, an estimated number of 59% of the applicants choose to go for student loans.