Notably, 86% of the students at University of Mississippi get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $43,276,426. More information regarding the financial assistance schemes can be accessed on UM’s official financial aid page at http://finaid.olemiss.edu. The total percentage of candidates applying to University of Mississippi who receive the Federal Grant is 22%. Meanwhile, 76% of the applicants receive the Student Grant and 63% are awarded the Institution Grant, while 22% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,165, and the same stands at $2,678 for State Grant awardees and $11,047 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $5,046. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. 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. Candidates are also required to repay these loans within a given period. Every year, around 41% of the applicants to University of Mississippi opt for student loans.