Notably, 93% of the students at University of California-Merced get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $19,516,532. The total percentage of candidates applying to University of California-Merced who receive the Federal Grant is 64%. On the other hand, 90% of the candidates get the Student Grant, 80% receive the Institution Grant, and 64% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,231, and the same stands at $11,142 for State Grant awardees and $10,817 for Institution Grant recipients. And, for the Pell Grant awardees, the average aid amount is $5,122. 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. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. 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. Every year, around 52% of the applicants to University of California-Merced opt for student loans.