Financial Aid

College financial aid encompasses various forms of assistance to help students cover the costs of attending college. Here are some common types of college financial aid:➡️

Federal Pell Grants: These are need-based grants provided by the U.S. federal government to undergraduate students who demonstrate exceptional financial need.
Federal Supplemental Educational Opportunity Grants (FSEOG): FSEOGs are need-based grants for undergraduate students with exceptional financial need. These grants are awarded by participating colleges and universities.
Federal Work-Study (FWS) Program: FWS provides part-time employment opportunities for undergraduate and graduate students with financial need, allowing them to earn money to help pay for educational expenses.
Federal Direct Subsidized Loans: These are low-interest loans available to undergraduate students with demonstrated financial need. The federal government pays the interest on these loans while the student is in school and during certain deferment periods.
Federal Direct Unsubsidized Loans: Unlike subsidized loans, unsubsidized loans are available to both undergraduate and graduate students regardless of financial need. Students are responsible for paying the interest on these loans, which accrues from the time the loan is disbursed.
Federal Direct PLUS Loans: These loans are available to graduate students and parents of dependent undergraduate students to help cover the cost of education expenses not covered by other financial aid. PLUS Loans require a credit check.
Scholarships: Scholarships are merit-based or need-based awards that do not need to be repaid. They can come from various sources, including colleges, universities, private organizations, foundations, and businesses.
Grants: In addition to federal grants like the Pell Grant and FSEOG, colleges and universities may offer institutional grants to students based on financial need, academic achievement, or other criteria.
Merit-Based Aid: Some colleges and universities offer merit-based scholarships or grants to students based on academic achievement, leadership abilities, artistic talents, athletic skills, or other accomplishments.
State Financial Aid Programs: Many states offer financial aid programs, including grants, scholarships, and tuition assistance, to residents attending colleges and universities within the state.
Employer Tuition Assistance: Some employers provide tuition reimbursement or assistance programs to employees who are pursuing higher education.
Private Loans: Private lenders offer education loans to students and parents to help cover college expenses. These loans typically have varying interest rates and repayment terms compared to federal loans.