Umbrella Organizations

Scholarships and Financial Aid

10 Tips About Financial Aid

10 Tips for About Financial Aid

1

Apply for admission.

When reviewing your admission application we'll also look for any scholarships for which you're eligible.

2

Complete your FAFSA.

Need help? Check out this video or contact our office at or 517/629-0440.

3

Review your Financial Aid Offer.

Once we've received your FAFSA we'll send you a financial aid notification that outlines any grants, loans or work-study that you may receive. We'll also include a link to the Albion College Information System (ACIS). This is your on-line portal that will give you all the details about each award and any outstanding requirements.

4

Complete your Financing Plan.

After you receive your aid offer we'll send you your personalized financing plan that allows you to consider other resources that you'll have available to assist with your college costs.  

5

Accept your aid.

Log into your ACIS account and accept any loans or work that you'd like. You'll also need to accept the Terms and Conditions for your scholarships.

6

Complete your loan counseling and promissory notes.

If you've accepted any loans you'll need to complete a promissory note – that's your agreement to repay the loan. And, you'll also be required to complete loan counseling. You can do both of those on-line. Your ACIS information will have the links for you to complete those requirements.

7

Make a plan to pay your bill.

We'll send your fall semester in early July. You can make sure all of your financial aid is ready to be applied to your bill by checking your financial aid requirements in ACIS. If you need additional resources to pay your bill now is the time to explore those.

8

Consider other resources.

There are additional loan programs – the PLUS loan for parents and alternative loans - to help cover your costs. You can learn more about those on our loan page. The college also has a payment plan through TuitionPay.

9

Authorize your parents to have access.

If you'd like to have your parents get a copy of your bill you'll need to add them as an authorized user on your account. You can sign them up on our Authorized Users page. You also may provide them access to view your ACIS account under the Proxy Menu option.

10

Stay connected.

Read your emails and check your ACIS account to make sure your file is complete. Follow us on Facebook to get updates on available scholarships and learning opportunities through the Financial Skills Center.

 

Ready to get started?

Start with our Scholarship Calculator, and get 10 tips on filling out the FAFSA

Apply to Albion

10 Tips for Filling Out The FAFSA

10 Tips for Filling out the FAFSA

The college search is an exciting and sometimes nerve-wracking time—for parents as well as students. There are so many things to do to prepare to send your child off to college. One “to-do list” item many parents dread is completing the Free Application for Federal Student Aid. We’re here to help alleviate some of that FAFSA anxiety. Keep these tips in mind.


1

Don’t panic.

It’s not as bad as you think and we’re here to help.

2

Both you and your student will need an FSA ID.

This allows you to electronically sign the FAFSA and gain access to federal student aid websites. You can get an FSA ID at www.fsaid.ed.gov. Each FSA ID will need a unique email address.

3

The FAFSA is free.

Don’t pay to submit the form or have anyone complete the form for you. If you need assistance, contact our office. File your FAFSA at: www.fafsa.gov.

4

You've got all the tax information you need.

The FAFSA uses your information from last year's tax return. You'll have the option to link your tax information directly from the IRS website to save time and increase accurracy. 

5

Submit your FAFSA early.

The FAFSA is available on October 1. We recommend you complete it when you complete your admission application to ensure you're eligible for all available funds. You can submit your FAFSA at any time, but we recommend you do it early to help you plan.

6

Have the information you need before you start.

This includes your FSA ID, social security numbers, 2015 federal tax returns –or estimates, bank and brokerage statements.

7

Make sure both the parent and student sign the FAFSA.

The FAFSA won’t be processed until both the parent and student provide an FSA ID or signature.

8

Review your Student Aid Report.

This is your confirmation that your FAFSA was processed and provides important follow up information. It also provides instructions on how to update your FAFSA, if needed.

9

Read email.

Make sure your student reads any email sent by the FAFSA processor or the financial aid office. Requests for additional information will be sent to the email address he or she submitted on the admission application.

10

Need more help?

Check out this video or contact our office at or 517/629.0440.

 

 

Ready to get started?

Start with our Scholarship Calculator, and get 10 tips about financial aid.

Apply to Albion

14 Steps to Financial Success

  1. 1  Complete the FAFSA

    We recommend everyone complete the FAFSA. Entering Action applicants should complete it by December 1.  Everyone else we recommend March 1.  Current students by January 1.

  2. 2  Review your financial aid award

    We’ll send new students financial aid notifications beginning in mid-November. Current students will be emailed their notice beginning in mid- January.

  3. 3  Develop your Albion Financing Plan

    Work with your admission or financial services counselor to explore your options and develop a plan to cover all of your college costs.

  4. 4  Visit your ACIS account to see what resources are available to you.
    • Use the username and password provided in your award notification to log into ACIS.
    • Review and accept the Terms and Conditions of your scholarship.
    • Accept Your Awards
  5. 5  Review the Student Requirements in ACIS to ensure your file is complete
    • Recommended deadline is June 15th
  6. 6  Write Your Scholarship Thank You Note
    • In ACIS click on the name of your scholarship to get information on your donor and instructions on how to write your letter.
  7. 7  Complete Direct Loan Master Promissory Note (MPN)
    • Go to Studentloans.gov
    • Sign in with the FSA ID used for the FAFSA
    • Sign the Master Promissory Note (subsidized/unsubsidized)
  8. 8  Complete Direct Loan Counseling
    • Go to Studentloans.gov
    • Sign in with the FSA ID used for the FAFSA
    • Complete Entrance Counseling (undergraduate)
  9. 9    Find a Job
    • Work-study/Albion Work positions are available at http://www.albion.edu/hr/student-employment
    • Complete the required paperwork before beginning employment.
  10. 10  Authorize Access
  11. 11  Check Your Bill
    • Your bill will be emailed to you at the beginning of each month starting in July. You are responsible for reviewing it and paying the balance owed.
  12. 12  Consider a PLUS or alternative loan
    • If you need additional resources to help cover your bill consider a PLUS or alternative loans
  13. 13  Request a refund
    • If your account is paid and there is extra money remaining you may request a refund of those funds by emailing .
  14. 14  Read your email

Access Your Aid

guy-at-computers-horiz


Albion Online.

There is a wealth of information available online. Here at Albion it's no different. You can access your personal information 24/7 by visiting the Albion College Information System, which we refer to as ACIS.

We'll send you the information you need to access your personal account after you've sent in your enrollment deposit.

Affordability

We understand. College costs can be daunting. But now more than ever, your college education is one of the most important investments your family can make.

Affordability is our goal, and we’re here to help families access all of the financial resources that are available. During the 2017-18 academic year, Albion awarded more than $36 million in scholarships and grants.

98% of our 2014 graduates earned their degree in four years or less. 92% of them reported that they were employed or in graduate school within six months. Compare this to many public universities, where 50% or less complete their degrees in four years.

Despite the assumption that liberal arts colleges are too expensive, our average federal student debt for 2016 graduates was $28,880, comparable to the national rate. Our default rate is only 3.5%, which is much lower than the national average of 10%. This means that almost 97% of our students achieve outcomes that make their debt manageable.

To get a better idea of how Albion can be an affordable investment for you, visit our Net Price Calculator. The Calculator gives you an idea, within $1,000, of the total scholarship and aid that Albion awards.

Our financial services team has outlined every aspect of the financial aid process, from scholarships and loans to estimating your expected family contribution (EFC). We know it's a lot of information and we’re here to help if you have questions. Contact us today!

Aid at Albion

Paying for college. We’re here to help.

In fact, we help 99% of the students enrolled at Albion providing over $40 million in grant support last year. Here’s how we helped:

In 2016-17:

  • 83% of freshmen received need-based financial aid, with an average award of $40,500
  • First-year students are receiving over $12 million in grant aid from Albion
  • The average grant/scholarship award to freshmen is $34,250
  • Grant aid totals over $40 million for all Albion students
IncomePercent of Enrolling Class     Average Grant or Scholarship     Range of Grant or Scholarship
0 - $29,999         19%      $42,116       $28,730 - $52,925
$30,000 - $ 59,999         22%      $40,746       $31,030 - $51,775
$60,000 - $89,999         14%      $35,631       $19,000 - $49,675
$90,000 - $119,999         13%      $31,089       $19,230 - $45,280
$120,000 - $149,999           6%      $26,273       $19,030 - $31,530
$150,000 and above         18%      $24,644       $16,000 - $41,570

Albion Grants

Students outside Wesley HallAlbion Legacy Scholarships

Amount: $1,500. Renewable

  • Available to students whose family includes one or more Albion alumna/alumnus (brother, sister, father, mother, grandparents) who have graduated from the College. Students should indicate their alumni connections on their application for admission to receive this award.  Students who receive an Albion Referral Scholarship are not eligible for the Alumni Grant.

    Contact your Admission representative or e-mail for more information.

 

Albion Institutional Commitment

Amount: Varies

The Albion College Committment is the minimum amount of scholarship and grant support you will receive from the College.  We are committed to helping students meet the cost of education and provides need-based grants to students who qualify.  A FAFSA is required for these funds.  In many cases students are eligible for endowed scholarships or grants from the College which will be used to meet this commitment.  

 

Albion Grant

Amount: Varies

The College is committed to helping students meet the cost of education and provides need-based grants to students who qualify.  A FAFSA is required for these grants funds.  Albion Grants will be used to meet any Institutional Commitment a student may receive.

 

Off-Campus Program Grants (OCP)

Amount: $250, $500, and $1,000 levels

  • OCP grants are competitive awards applied to the cost of off-campus semester or yearlong programs.

 

Albion Scholarships

Students stand outside on the Albion College Quad.Albion's academic scholarships are awarded to students with outstanding academic records who demonstrate potential for future success. You will automatically be considered for awards when you apply.

Scholarships for the 2017-18 academic year will range from $17,000 to $27,000 ($68,000 to $108,000 over four years).

All Albion academic scholarships are based solely upon merit, regardless of need. All are renewable each year, subject to satisfactory academic progress. 

Our goal is to recognize students for their academic performance to ensure that students have the resources needed to make an Albion education affordable.

Scholarship notifications begin November 1.

Alternative/Private Loan Options

There are a number of lenders who provide alternative loans. The College can provide you with a list of those lenders that students have used in the past; we, however, don’t rank or recommend any lenders.

Be an Informed Borrower

Loan provisions and requirements vary greatly and change frequently. You should contact the lender for specific information regarding the most current interest rate, fees and eligibility requirements before taking a loan. You should carefully research the loan company you are considering doing business with. The Federal Trade Commission has a helpful web site that provides tips on items to look for when selecting a lender.

Important Information About Applying

Once you have decided to apply for an alternative loan allow 3-5 business days to have your application forwarded to our office. When you have completed your application online you should notify our office either via email or calling 517/629-0440.

Items to Consider When Comparing Loans

To ensure that you are fully informed, you should read the lender's application and promissory note fully for specific information regarding the terms and conditions of your loan. Important questions to ask before taking a loan include:

Eligibility:

  • What is the minimum and maximum loan amounts offered per year and cumulatively?
  • Is the amount you are eligible to borrow tied to school costs and other financial aid received?
  • What is the approximate time it takes to obtain a decision for loan approval?
  • Are there any minimum enrollment requirements? If so, what are they?
  • What are the credit criteria for loan approval? Do they include a debt-to-income ratio or other income requirements?
  • What is considered "poor credit," and is no credit considered poor credit?
  • What steps will the lender take to help qualify borrowers with poor credit?
  • Are co-signers an option or a requirement? Under what conditions are they required?
  • Is there an option to release the co-signer at a later date? If so, what are the conditions?

Interest Rates and Fees:

  • What is the interest rate? What is it based on (i.e. Prime, T-Bill, etc.)?
  • Is the interest rate fixed or variable? If variable, how frequently can the rate change?
  • Is there a maximum amount the interest rate can increase with each change?
  • Is the loan adjusted based on a rate changes? For example, will interest be capitalized (added to the principal) or will the repayment term or amount be adjusted?
  • What fees are charged? When and how are fees paid?
  • What is the total cost of the loan over the life of the loan?

Repayment Terms and Conditions:

  • What are the minimum and maximum repayment terms and payment amounts?
  • Are there any restrictions or special conditions you need to consider?
  • When does repayment begin? Is there a grace period before payments are expected? If so, how long is it?
  • Can payments be deferred? If so, under what circumstances?
  • Are payments required while you are in school?
  • Are there any prepayment penalties?

Service:

After originating a loan, the lender can keep the loan until it is paid in full, sell it to a secondary market or keep it and contract with a servicer to manage the day-to-day details of tracking and collecting loan payments.

  • When are the loan funds disbursed?
  • Will you have online access to the application process and for account inquiry?
  • Who do you contact for questions about your loans?
  • Can the lender combine your private and federal loan payments into one bill?

Obtaining a Loan:

There are a number of lenders that provide alternative loans; review a list of popular lenders.

    Applying for Aid

    Students studying in Stockwell Library's Cutler Commons.Our mission is centered on you.

    We're here to help you and your family find the resources you need to make an Albion education possible. We will do all we can to take a complex process and translate it into terms that make sense to you.

    Once you apply for need-based financial aid, we'll build you a customized package that includes the different types of aid that are available at Albion. Your package may include academic and talent-based scholarships, grants, low-interest loans, and campus work opportunities.

    Working together, our financial aid team will help you build the strongest financial aid package possible. When you're ready to apply for aid, you'll find all the information you need right here.

    FAFSA First

    The first step in determining your family's financial need is completing the Free Application for Federal Student Aid (FAFSA). Just go to the FAFSA website or check with your high school counselor. The FAFSA can be filled out after October 1 and we encourage students applying for Early Action to complete it by December 1. Albion's priority deadline is March 1 for entering students.

    Albion's FAFSA code number is 002235.

    The U.S. Department of Education is encouraging all families to file the FAFSA via the web. Before completing the FAFSA online you must file for an FSA ID. Please note that both you and one of your parents must sign up for an FSA ID. You should also include your e-mail address on your FAFSA. Pre-application worksheets are available on the FAFSA website to assist families in collecting the necessary data prior to completing the FAFSA.

    Tips on how to complete the FAFSA

    Complete Your File

    Understanding Your SAR

    What's an SAR? It's the Student Aid Report, and every student who includes an e-mail address on the FAFSA will receive one. You can expect your SAR within 48 hours of filing online or within three weeks after filing a paper FAFSA without an e-mail address.

    The SAR is your official record that the federal processor received your FAFSA. The federal processor will also send a copy of your SAR to each of the schools you list on the FAFSA.

    If you need additional copies of the SAR, visit the FAFSA website or call the federal processor at 800/4-FED-AID. Also be sure to:

    • Carefully review the SAR to make sure all the information is correct. If you find errors, correct them and submit them to the federal processor.

    • Check to see if your SAR has been selected for verification. Look under the date for the letters EFC (expected family contribution) followed by a series of numbers. If there is an asterisk (*) after your EFC, your FAFSA has been selected for verification. If so, you will be asked by the Student Financial Services Office at Albion College to provide more information. Be sure to respond as soon as possible—you could be left without aid if the process is delayed.

     

    Additional Documents

    In order to complete our review of your file, we may request additional documents. If you need a copy of a form, you may download it from our Forms page.

    If additional documents are needed, we will e-mail you or once you receive your ACIS access you may check under the requirements section of your account.

    Build Albion Fellows

    Build Albion Fellows hosted a community basketball tournament.

    Albion College's Build Albion Fellows program is intended to strengthen the bonds between the College and its host community by providing a college education and meaningful work experience for local students, while also benefiting the community through student service.

    What does that mean? Each year up to 10 students from the Greater Albion area and surrounding communities will be offered the opportunity to serve as a Build Albion Fellow. These students will be provided with tuition, room and board for four years in exchange for working in and serving the Albion community.

    Who are we looking for?

    Our Build Albion Fellows will be dedicated to:

    • Serving their community
    • Success in academics
    • Leadership Development
    • Creating meaningful change

    Learn more about details of the program to find out if you are eligible, and view the application requirements.

    You can also pdfdownload our flyer to learn more!

    Build Albion Fellows Application Process

    Application Process

    Step 1. Contact your Admissions Counselor to determine your eligibility.

    Step 2. Receive Build Albion Fellows Applications via email or U.S. mail, beginning Wednesday, January 4, 2017.

    Step 3. Submit an application to the Office of Admission by Friday, March 10, 2017.

    Important Dates

    Wednesday, February 15: Complete FAFSA

    Friday, March 10: All applications are due to the College Admissions Office by 5 p.m.

    Saturday, April 1: Interview Day

    Thursday, April 27: BAF Class of 2021 Dinner Celebration

    Early June: New Fellows Retreat

    Admission Counselors

    Rhiki Swinton
    Email:
    Phone: 517/629-0769

    Lloyd McPartlin
    Email:
    Phone: 517/629-0472

    Eligible for the program? Apply today

    Build Albion Fellows Details

    Build Albion Fellows help with an Albion community park.

    Program Eligibility

    1. Live within the former Albion Public Schools district
    2. Admitted to Albion College as a first-year student; or a middle college
    3. File Free Application for Federal Student Aid (FAFSA); full Pell Grant eligibility

    If you do not fully meet the qualification requirements, you may still be eligible, given that enrollment space is available. Please contact your Admissions Counselor to learn more about your eligibility. 

    Eligible for the program? Apply today

    Program Basics

    Summer Program

    During the summer before the first semester, you will participate in a short retreat. You will engage with campus, faculty, and staff and be introduced to the program that will shape the next four years—and the rest of your life! For approximately 20-25 hours per week, you will participate in community service, weekly meetings, project development, leadership training, and on- and off-campus networking.

    We understand that fun and excitement are important parts of education and summer! We will explore what other areas are doing to revitalize their people and cities.

    At the end of the summer, we will prepare you for the coming semester with another retreat. This will help you navigate campus and gear up for classes, jumpstarting your transition to campus life.

    Academic Semester

    During the academic year, a 1/4 unit academic course reserved specifically for Fellows provides structure and support for effective service and community engagement. Fellows will participate in a project-based model of service to the community, and dedicated faculty and staff will guide you and work alongside you. The course will challenge you to think about leadership and community building from different perspectives. We are committed to helping you navigate and change the world around you. As you grow and learn over the course of 4 years, your responsibility and leadership in service will increase. We strongly encourage Fellows to participate in clubs and organizations and take on leadership roles as part of their Albion College experience.

    Completing Your File

    Understanding Your SAR

    PhotoWhat's an SAR? It's the Student Aid Report (SAR), and every student who includes an e-mail address on the FAFSA will receive one. You can expect your SAR within 48 hours of filing online or within three weeks after filing a paper FAFSA without an e-mail address.

    The SAR is your official record that the federal processor received your FAFSA. The federal processor will also send a copy of your SAR to each of the schools you list on the FAFSA.

    If you need additional copies of the SAR, visit the FAFSA Web site or call the federal processor at 800/4-FED-AID. Also be sure to:

    • Carefully review the SAR to make sure all the information is correct. If you find errors, correct them and submit them to the federal processor.

    • Check to see if your SAR has been selected for verification. Look under the date for the letters EFC (expected family contribution) followed by a series of numbers. If there is an asterisk (*) after your EFC, your FAFSA has been selected for verification. If so, you will be asked by the Student Financial Services Office at Albion College to provide more information. Be sure to respond as soon as possible – you could be left without aid if the process is delayed.

    Additional Documents

    In order to complete our review of your file, we may request additional documents. If you need a copy of a form, you may download it from our forms page.

    Contact Us

    Write, call, or click.

    If you’d like to know more about any Albion scholarship or financial aid program, please submit the form below, or reach us by phone at 517/629-0440.

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    Mailing Address:

    Albion College
    Student Financial Services Office
    611 E. Porter St.
    Albion, MI 49224

    Phone: 517/629-0440
    Fax: 517/629-0581

    Costs

    Three Albion College students walking on the Quad.

    This is when you get your calculator and figure it out.

    For the 2016-17 academic year, 100 percent of Albion students are receiving financial aid. That turns a conversation about cost into a conversation about value. What is the value of an Albion education? What's the cost? You'll find our totals below. And you'll know our value by the success of our graduates.

    Fall 2017 Spring 2018 Total
    Tuition $21,280 $21,280 $42,560
    Housing** $2,995 $2,995 $5,990
    Meals (Regular) $3,110 $3,110 $6,220
    Activity Fee $245 $245 $490
    Total $27,630 $27,630 $55,260
    Matriculation $185 $0 $185

    **The housing charge is for a regular double-occupancy room.

    In addition to tuition and fees, books and supplies average from $1,200 to $1,500 per year. More detailed information on tuition and fees is available from the Accounting Department.

    Current Students

    Students at computer stations in Stockwell Library's Cutler Commons.

    You're invested in Albion.

    You've been here awhile. Maybe a year, maybe a few. You've made an impact on campus and studied hard. But you still have a little more to go.

    The reality is that your investment increases each year. Getting the facts on scholarships and financial aid is the next step to help ensure that your Albion education is affordable, and continues to be the education of a lifetime.

    Dates and Deadlines

    Entering Students

    The following are key dates and deadlines entering students need to remember during the financial aid process.

    December 1

    FAFSA recommended deadline for Early Action applicants.

    March 1

    Recommended deadline to complete the FAFSA for entering students.

    May 1

    Deposit Day for first-year students.

    July 1

    Recommended deadline for scholarship thank-you letters.

    August 1

    Deadline for completing your financial aid requirements in order to have aid on your student account before your fall payment is due.

    Current Students

    The following are key dates and deadlines current students need to remember during the financial aid process.

    January 1

    FAFSA recommended deadline.

     

    Mid-January

    Albion begins sending award notifications to continuing students.

    July 1

    Recommended deadline for scholarship thank-you letters.

    August 1

    Deadline for completing your financial aid requirements in order to have aid on your student account before your fall payment is due.

    Department and Campus Scholarships

    An Albion College student plays the cello during a concert.The College provides a number of opportunities to recognize students for their unique talents and abilities.

    The following scholarships are offered to entering and continuing students and are renewable.

    Bernard T. Lomas Scholarship

    • Available to a student intending to major in communication studies. Based on the applicant's academic record and speech-related activities.
    • Contact the Communication Studies Department at 517/629-0325 or e-mail Karen Erlandson, department chair.

    Fine Arts Scholarships

    • Based on demonstrated talent, and without regard to academic major, to students planning to participate in art, music, or theatre.
    • Contact the departments listed below for an audition and/or interview.
      Art: 517/629-0249 or e-mail
      Music: 517/629-0481 or e-mail
      Theatre: 517/629-0345 or e-mail

    David Randall Chemistry Scholarship

    • Available to students who plan to, or are, majoring in chemistry.  Based upon an applicant's academic record and student intent to pursue an advanced degree in chemistry or related science. 
    • Students must maintain a 3.0 GPA to renew the scholarship.
    • Contact the Chemistry Department at 517/629-0276 for further information.

    Kalamazoo Promise - Our Promise

    • Available to students who have the Kalamazoo Promise scholarship.
    • Students should complete a FAFSA by February 15th each year.
    • Students may have up to 100% of their financial need met to cover tuition, fees, housing and food costs depending upon the value of their Promise scholarship.
    • Financial need may be met through the Promise Scholarship along with college, state and federal grants/scholarships as well as campus employment.

    Methodist Student Aid Programs

    United Methodist Clergy Award

    • Available to children of ordained United Methodist clergy who are on an active assignment with a United Methodist Conference.
    • Automatic consideration for the award based on information provided on the admission application.

    United Methodist Student Scholarship

    John Wesley Matching Scholarship

    • Albion College will match a scholarship that a student receives from his/her local United Methodist Church up to $1,000.
    • Complete the John Wesley Scholarship Application for consideration.

    Triple Your Dollars for Scholars

    • Albion College participates in the "Triple Your Dollars for Scholars" program through the United Methodist Foundation. Visit the foundation's Web site for details about this scholarship program.

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