It is interesting to note that, every year, around 98% of students at VUL receive some kind of financial aid, while the total amount of assistance/loans provided is $824,987. For additional information about financial assistance schemes, one can head over to VUL’s financial aid page at http://www.vul.edu. At VUL, the total percentage of applicants who receive the Federal Grant stands at 92%. Meanwhile, 98% of the applicants receive the Student Grant and 73% are awarded the Institution Grant, while 92% of the students get the Pell Grant. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $2,675. 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. Those with a family income below $30,000 per annum, would get an average federal aid of $10,429 in a year. The average aid amount stands at $6,125 for an annual family income between $30,001 and $48,000. This amount comes to $3,981 for those who fall under the $48,001-$75,000 family income bracket. Those with an annual income level of $75,001-$110,000 would receive $5,167, while candidates with more than $110,000 of family income receive an average federal aid of $5,000. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Virginia University of Lynchburg, the percentage of candidates who opt to avail of student loans is around 98%.