Such schemes include Beca Legado Elena Pratts and Samuel Basherov Scholarship. As many as 78% of the students at UPRM get some sort of financial aid, and the total amount of assistance/loans provided is more than $9,870,611 in a year. More information regarding the financial assistance schemes can be accessed on UPRM’s official financial aid page at http://www.uprm.edu/financialaid/. At UPRM, the total percentage of applicants who receive the Federal Grant stands at 72%. In comparison, 76% of the students are awarded the Student Grant, 10% get the Institution Grant, and 70% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $5,350, the State Grant receivers and Institution Grant beneficiaries get $230 and $1,668, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $5,149. 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. 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. At University of Puerto Rico-Mayaguez, the percentage of candidates who opt to avail of student loans is around 7%.