As many as 95% of the students at UM get some sort of financial aid, and the total amount of assistance/loans provided is more than $8,681,396 in a year. For additional information about financial assistance schemes, one can head over to UM’s financial aid page at https://www.montevallo.edu/admissions-aid/. The total percentage of candidates applying to University of Montevallo who receive the Federal Grant is 40%. Meanwhile, 90% of the applicants receive the Student Grant and 83% are awarded the Institution Grant, while 40% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,082, the State Grant receivers and Institution Grant beneficiaries get $1,200 and $10,059, respectively. And, for the Pell Grant awardees, the average aid amount is $4,927. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 53% of the applicants to University of Montevallo opt for student loans.