Notably, 98% of the students at The University of Tennessee-Martin get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $18,292,558. More information regarding the financial assistance schemes can be accessed on TUTM’s official financial aid page at http://www.utm.edu/departments/finaid/. At TUTM, the total percentage of applicants who receive the Federal Grant stands at 52%. On the other hand, 97% of the candidates get the Student Grant, 80% receive the Institution Grant, and 52% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,995, while the same comes to $4,827 for State Grant receivers and $3,012 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,647. 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. 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 TUTM, an estimated number of 54% of the applicants choose to go for student loans.