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 $11,230,211. The total percentage of candidates applying to Augustana College who receive the Federal Grant is 24%. On the other hand, 100% of the candidates get the Student Grant, 100% receive the Institution Grant, and 24% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,533, while the same comes to $4,595 for State Grant receivers and $27,157 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,376. 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. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 63% of the applicants to Augustana College opt for student loans.