Such schemes include Achievement Award, Aid to Native Americans, Albert E. Wischmeyer Memorial Scholarship, and Alumni Association Scholarship. Notably, 98% of the students at Berkeley College-New York get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $24,472,731. Notably, a total of 78% of the applicants to Berkeley College-New York receive the Federal Grant every year. In comparison, 98% of the students are awarded the Student Grant, 97% get the Institution Grant, and 78% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,654, and the same stands at $4,519 for State Grant awardees and $9,724 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $5,510. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for 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. Every year, around 68% of the applicants to Berkeley College-New York opt for student loans.