Such schemes include Carnegie Dartlet $10,000 Scholarship, Community Service Scholarship for Multicultural Students, Joseph P. Gavenonis Scholarship, and Ohio College Opportunity Grant. It is interesting to note that almost every student at TUA receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $10,059,237. The total percentage of candidates applying to The University of the Arts who receive the Federal Grant is 34%. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 34% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,996, while the same comes to $3,457 for State Grant receivers and $22,224 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,778. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. 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. At The University of the Arts, the percentage of candidates who opt to avail of student loans is around 100%.