$5,198

Avg. Federal Grant

$5,416

Avg. Federal Loan

$53,952,724

Total Aid Awarded

Albion College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

99%

Total Aid Amount Average Total Aid Awarded per year.

$53.953M

Financial Aid Official Website

www.albion.edu/admission/student-financial-services

Such schemes include Art and Helen Nickless Scholarship, Auburn Jaycees Education Scholarship, Bay City Civitan/Marcella Barber Scholarship, and Bay City Kiwanis Educational Scholarship. It is interesting to note that almost every student at AC receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $7,017,944. Notably, a total of 46% of the applicants to Albion College receive the Federal Grant every year. Meanwhile, 100% of the applicants receive the Student Grant and 100% are awarded the Institution Grant, while 46% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,338, the State Grant receivers and Institution Grant beneficiaries get $2,388 and $37,255, respectively. And, for the Pell Grant awardees, the average aid amount is $4,909. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. 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 AC, an estimated number of 70% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

51%

State Grant Aid

49%

Institution Grant Aid

100%

Pell Grant

51%

Average Aid Awarded

Federal Grant Aid

$5,198

State Grant Aid

$2,040

Institution Grant Aid

$35,386

Pell Grant

$4,766

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$46,975

$30,001 - $48,000

$45,832

$48,001 - $75,000

$43,863

$75,001 - $110,000

$35,923

Over $110,000

$29,965

Student Loans for Albion College

Average Loan Amount Average Loan Amount received per year.

$6,661/Year

Students Taking Out Loans

74%

Loan Default Rate

5.8%

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