Students can avail of scholarships provided by the university, such as Alma-Hal Reagan M.Bus.Admin. Fellowship, Alumni Achievement Scholarship, Alumni National Merit Scholarship, and Alvin G. and Sally M. Beaman Scholarship, if they find educational expenses to be on the higher side. It is interesting to note that, every year, around 91% of students at TUTK receive some kind of financial aid, while the total amount of assistance/loans provided is $57,638,208. For additional information about financial assistance schemes, one can head over to TUTK’s financial aid page at http://onestop.utk.edu/financial-aid/. At TUTK, the total percentage of applicants who receive the Federal Grant stands at 24%. In comparison, 84% of the students are awarded the Student Grant, 54% get the Institution Grant, and 24% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,999, the State Grant receivers and Institution Grant beneficiaries get $4,829 and $7,493, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,737. 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. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At The University of Tennessee-Knoxville, the percentage of candidates who opt to avail of student loans is around 40%.