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.