Interestingly, almost all of the students at AC receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $9,035,924 in a year. More information regarding the financial assistance schemes can be accessed on AC’s official financial aid page at https://www.alverno.edu/financialaid/. At AC, the total percentage of applicants who receive the Federal Grant stands at 62%. Meanwhile, 100% of the applicants receive the Student Grant and 99% are awarded the Institution Grant, while 62% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,842, while the same comes to $3,158 for State Grant receivers and $13,901 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,314. 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. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $20,872 per year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $21,774, while those falling in the $48,001-$75,000 income category get $19,584 a year. On the other hand, the average federal aid stands at $14,544 for those with an annual family income between $75,001 and $110,000, and at $12,542 for an income more than $110,000. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At AC, an estimated number of 72% of the applicants choose to go for student loans.