It is interesting to note that, every year, around 96% of students at USAO receive some kind of financial aid, while the total amount of assistance/loans provided is $2,294,470. At USAO, the total percentage of applicants who receive the Federal Grant stands at 50%. Meanwhile, 92% of the applicants receive the Student Grant and 80% are awarded the Institution Grant, while 50% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,998, the State Grant receivers and Institution Grant beneficiaries get $5,502 and $7,416, respectively. On the other hand, the average aid received by the Pell Grant awardees is $5,071. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 48% of the applicants to University of Science and Arts of Oklahoma opt for student loans.