by our College Data Analytics TeamMost students won’t pay the advertised price of a school. Instead, they will be provided with a financial aid plan that includes a mix of scholarships, grants, loans, and work-study. But some kinds of aid are more desirable than others, and some students will get more than others.
Uncover the various financial aid options provided by Albion and determine which ones you may be eligible for by continuing your exploration.
$42,512.00 is the typical Albion College’s first year financial aid package. Approximately 100% of incoming freshmen obtain financial assistance, with the majority being offered as grants and scholarships.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
We feel that loan debt ought to be regarded as a consequence instead of true financial aid. Learn more on student loan debt at Albion College.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The numbers listed below make reference to help that is offered by Albion College.
100% of new students (415 total) were offered scholarships at Albion College, averaging $38,910.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 85% of freshman students (353 total) obtained federal grant aid, averaging $3,583.00 a piece.
The next table demonstrates grant and scholarship distributions by income level for freshmen getting any form of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 22.41% | $51,589.00 |
| Income 30k-48k | 12.29% | $49,309.00 |
| Income 48k-75k | 11.33% | $47,324.00 |
| Income 75k-110k | 13.25% | $41,913.00 |
| Income 110k + | 16.39% | $34,476.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
Of the 415 undergraduate students at Albion College around 100% (415 total) receive some form of grant aid. The typical amount awarded was $42,512.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.