Notably, 95% of the students at Western Colorado University get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $7,594,696. At WCU, the total percentage of applicants who receive the Federal Grant stands at 28%. Meanwhile, 87% of the applicants receive the Student Grant and 85% are awarded the Institution Grant, while 28% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,552, and the same stands at $1,922 for State Grant awardees and $4,719 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,390. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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 Western Colorado University, the percentage of candidates who opt to avail of student loans is around 58%.