Students can avail of scholarships provided by the university, such as Dr. Hugh and Madge Gleaton Scholarship Fund, North Carolina Student Incentive Grant, and Triangle Scholarship Program, if they find educational expenses to be on the higher side. Notably, 74% of the students at University of North Carolina School of the Arts get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $3,007,130. Notably, a total of 23% of the applicants to University of North Carolina School of the Arts receive the Federal Grant every year. Meanwhile, 62% of the applicants receive the Student Grant and 62% are awarded the Institution Grant, while 23% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,986, and the same stands at $4,253 for State Grant awardees and $6,932 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,663. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. However, student loans attract a certain rate of interest at which the funds are borrowed. Candidates are also required to repay these loans within a given period. At UNCSA, an estimated number of 52% of the applicants choose to go for student loans.