Students can avail of scholarships provided by the university, such as Albert M. Lappin Scholarship, Hansen Leaders of Tomorrow, Hansen Scholar Award, and Hansen Student Scholarship, if they find educational expenses to be on the higher side. As many as 92% of the students at WU get some sort of financial aid, and the total amount of assistance/loans provided is more than $16,220,919 in a year. At WU, the total percentage of applicants who receive the Federal Grant stands at 40%. Meanwhile, 82% of the applicants receive the Student Grant and 63% are awarded the Institution Grant, while 40% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,016, the State Grant receivers and Institution Grant beneficiaries get $1,187 and $5,351, respectively. And, for the Pell Grant awardees, the average aid amount is $4,847. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Washburn University, the percentage of candidates who opt to avail of student loans is around 55%.