Among them are scholarship programs such as Academic Scholarship, Alice Ann Garner Scholarship, Amy L. McKee-Everett Memorial Scholarship, and Birds Eye Foods (Brooks Foods) Scholarship. It is interesting to note that, every year, around 99% of students at VU receive some kind of financial aid, while the total amount of assistance/loans provided is $12,515,787. Notably, a total of 32% of the applicants to Valparaiso University receive the Federal Grant every year. Meanwhile, 99% of the applicants receive the Student Grant and 99% are awarded the Institution Grant, while 32% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,751, the State Grant receivers and Institution Grant beneficiaries get $7,415 and $27,052, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,570. 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. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At VU, an estimated number of 46% of the applicants choose to go for student loans.