Interestingly, almost all of the students at TMU receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $3,445,158 in a year. At TMU, the total percentage of applicants who receive the Federal Grant stands at 46%. Meanwhile, 100% of the applicants receive the Student Grant and 99% are awarded the Institution Grant, while 46% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,102, and the same stands at $3,421 for State Grant awardees and $8,903 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,574. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At TMU, an estimated number of 70% of the applicants choose to go for student loans.