As many as 88% of the students at TUM get some sort of financial aid, and the total amount of assistance/loans provided is more than $30,653,349 in a year. One can visit TUM's financial aid page at http://www.umt.edu/finaid/ for more information. The total percentage of candidates applying to The University of Montana who receive the Federal Grant is 38%. In comparison, 74% of the students are awarded the Student Grant, 55% get the Institution Grant, and 38% of the applicants receive the Pell Grant. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,549. 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. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 51% of the applicants to The University of Montana opt for student loans.