Such schemes include Academic Scholarship, College of Agriculture First Year Scholarship, Commonwealth Scholarship, and Diversity Scholarship. It is interesting to note that, every year, around 94% of students at UK receive some kind of financial aid, while the total amount of assistance/loans provided is $57,062,772. For additional information about financial assistance schemes, one can head over to UK’s financial aid page at http://www.uky.edu/FinancialAid. At UK, the total percentage of applicants who receive the Federal Grant stands at 25%. On the other hand, 92% of the candidates get the Student Grant, 77% receive the Institution Grant, and 25% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,719, while the same comes to $2,554 for State Grant receivers and $10,178 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,461. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. Every year, around 46% of the applicants to University of Kentucky opt for student loans.