Financial Aid

Financial aid typically refers to monetary assistance in paying for college. This can come from scholarships, grants, loans, or work studies. Need is determined based on family income, geographic location, financial responsibilities, and other specific information.

Scholarships tend to be "awarded" to students based off of performance. This can be due to academic record, test scores, athletic ability, leadership involvement, community service, or a variety of other areas.

A grant is money given to help pay for college that does not need to be paid back. It is often restricted as to how it is used, but it works as a contribution to payments for college. Need is a major factor in determining grants. 

Unlike grants, loans need to be repaid eventually, and typically with interest. They may be awarded from the government, an institution, or a third party. 

Some institutions will offer a job to students in order to offset the cost of attendance. These jobs can be in the cafeteria, library, maintenance, admissions, or any other department that could use student help. Not every institution offers work studies. Payment may go to the student, or it may directly offset the cost of admission.

The Free Application for Federal Student Aid (FAFSA) is a form completed by students/families every year to determine eligibility for financial aid from the government. It takes into account family information to predict how much contribution can be expected from a student’s family. After the government has received your completed FAFSA, they will share it with colleges. Colleges need that information to determine if they will also be offering financial aid. Because both the government and colleges use the FAFSA, it is essential that you complete the FAFSA if you want any aid from either of these sources.

The College Scholarship Service Profile (CSS Profile) is similar to the FAFSA. It collects information about individuals to learn what aid they may qualify for. It is operated through The College Board. Unlike the FAFSA, the CSS Profile awards aid that is not from the government. 

While most schools require the FAFSA and/or CSS Profile, every school runs financial aid differently. When learning about financial aid for your specific schools, you will need to visit each individual website or reach out to admissions personnel.