Notably, 78% of the students at Texas Tech University get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $90,500,283. For additional information about financial assistance schemes, one can head over to TTU’s financial aid page at http://www.depts.ttu.edu/financialaid/. At TTU, the total percentage of applicants who receive the Federal Grant stands at 25%. In comparison, 61% of the students are awarded the Student Grant, 52% get the Institution Grant, and 25% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,024, while the same comes to $5,143 for State Grant receivers and $4,901 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,815. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. 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. Every year, around 42% of the applicants to Texas Tech University opt for student loans.