Among them are scholarship programs such as Dr. Allen Smith Memorial Scholarship, Education Foundation Scholarship, Educational Assistance Commitment Grant, and James R. Hunt Memorial Scholarship. As many as 82% of the students at URG get some sort of financial aid, and the total amount of assistance/loans provided is more than $1,679,665 in a year. Notably, a total of 58% of the applicants to University of Rio Grande receive the Federal Grant every year. On the other hand, 65% of the candidates get the Student Grant, 36% receive the Institution Grant, and 58% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,962, and the same stands at $2,277 for State Grant awardees and $6,528 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,459. 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. 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. Every year, around 64% of the applicants to University of Rio Grande opt for student loans.