As many as 63% of the students at UCB get some sort of financial aid, and the total amount of assistance/loans provided is more than $36,868,453 in a year. The total percentage of candidates applying to University of California-Berkeley who receive the Federal Grant is 23%. In comparison, 54% of the students are awarded the Student Grant, 51% get the Institution Grant, and 23% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $5,417, the State Grant receivers and Institution Grant beneficiaries get $10,993 and $11,063, respectively. And, for the Pell Grant awardees, the average aid amount is $4,711. 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. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At University of California-Berkeley, the percentage of candidates who opt to avail of student loans is around 23%.