It is interesting to note that, every year, around 75% of students at UC receive some kind of financial aid, while the total amount of assistance/loans provided is $55,150,329. More information regarding the financial assistance schemes can be accessed on UC’s official financial aid page at http://financialaid.uconn.edu/. The total percentage of candidates applying to University of Connecticut who receive the Federal Grant is 20%. On the other hand, 61% of the candidates get the Student Grant, 61% receive the Institution Grant, and 20% get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,345, the State Grant receivers and Institution Grant beneficiaries get $3,648 and $12,665, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,826. 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. However, student loans attract a certain rate of interest at which the funds are borrowed. Candidates are also required to repay these loans within a given period. Every year, around 44% of the applicants to University of Connecticut opt for student loans.