Paying for college can be confusing and overwhelming. Look below for common definitions of financial aid.
Types of Aid
Grants
Money from the government (federal or state) or money from your school that does not usually have to be paid back. Most grants are awarded to students with financial need and may have deadlines you have to meet.
Loans
Money that is borrowed and must be paid back with interest. There are many different types of loans, so you'll want to make sure you understand whichever ones you decide to take out and use.
Scholarships
Money you do not have to pay back. Check out your college's website, info from your counselor, state scholarships, community organizations, or your parents' workplace.
Work Study
Money that may be offered to you based on your Student Aid Report (summary from the FAFSA) giving you the opportunity to work on your college's campus for scholarship money.