Financial Aid Basics

Types of Financial Aid

Grants: Free money that does not have to be repaid. Grants may be merit-based, need-based or student-specific. 

Loans: Money that needs to be repaid with interest.
Work-Study: Money earned by student by working a job while enrolled in school. 

Scholarships: Free money offered by individual institutions and private organizations. Scholarships are awarded based on a number of factors, such as academic performance, athletic ability, religion/ethnic affiliation and special interests.