It is interesting to note that, every year, around 90% of students at UMR receive some kind of financial aid, while the total amount of assistance/loans provided is $1,881,043. At UMR, the total percentage of applicants who receive the Federal Grant stands at 32%. In comparison, 70% of the students are awarded the Student Grant, 63% get the Institution Grant, and 32% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,351, and the same stands at $6,210 for State Grant awardees and $2,830 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,910. 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. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 63% of the applicants to University of Minnesota-Rochester opt for student loans.