Students can avail of scholarships provided by the university, such as Anthony Munoz Foundation Scholarship Fund, Dr. Allen Smith Memorial Scholarship, Education Foundation Scholarship, and Educational Assistance Commitment Grant, if they find educational expenses to be on the higher side. It is interesting to note that, every year, around 97% of students at UD receive some kind of financial aid, while the total amount of assistance/loans provided is $41,290,586. Notably, a total of 15% of the applicants to University of Dayton receive the Federal Grant every year. In comparison, 95% of the students are awarded the Student Grant, 95% get the Institution Grant, and 15% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $5,277, the State Grant receivers and Institution Grant beneficiaries get $2,828 and $24,911, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,330. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At University of Dayton, the percentage of candidates who opt to avail of student loans is around 55%.