Types of Aid
Grants and scholarships are financial aid that do not have to be paid back. Grants are often need-based, while scholarships are typically merit-based.
Lexington is fortunate enough to have a reserve of scholarship money in the local Lexington Scholarship Program. Every year many scholarships are available to Lexington's youth. They include awards based on financial need, as well as ones that are based on specific qualifications, such as outstanding scholarship or contributions to the community.
A loan is money that is borrowed and must be paid back. There are several types of federal loans: Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans, Direct Consolidation Loans, and Federal Perkins Loans.
Federal work-study provides part-time jobs for undergraduate and graduate students with financial need. The work-study provides the student an opportunity to earn money to defray the cost of their educational expenses.