Types of Financial Aid

When you apply for financial aid, you are applying for gift aid (scholarships and grants) and self-help programs (Federal Work-Study and loans).

Scholarships
They do not have to be repaid and they are based on many factors including academic merit and/or financial need.

Grants
They do not have to be repaid and they are based on financial need.

Federal Work-Study
This is a federal financial aid program designed to help students meet educational expenses. The award is based on financial need.

Loans
This is borrowed money that you repay with interest, because of special interest rates and repayment options, student loans are considered financial aid.