Types of Aid
Know your options.
From grants and scholarships to loans and work-study, you'll need to be familiar with all the types of aid you may be eligible to receive. All aid falls in two basic categories – gift assistance and self-help assistance.
Gift assistance includes scholarships and grant funds from Albion, the state of Michigan, the federal government, and other outside agencies. These funds do not need to be repaid. The State of Michigan Competitive Scholarship and Tuition Grant programs are special awards designed to make private colleges in Michigan affordable for Michigan families.
Self-help assistance includes funds such as low-interest student loans, which must be repaid. Campus employment is another form of self-help.