Financial Aid

Grants are gift aid awarded to students often based on financial need (and do not need to be paid back). They typically come from the state government, federal government, non-profit organizations, and schools.

The most common federal grant is the Pell Grant. The Pell Grant is awarded to undergraduate students and provides an award based on financial need of the student based on their FAFSA application.

A scholarship is a money-based award specifically designated for education-related expenses.

Qualification for scholarships depends on the individual scholarship program and awards can be based on merit, talent, or academic performance.

They come in a variety of amounts, but the typical scholarship award is $9,520 per undergraduate student as of 2018-2019 and can cover the cost of a single class or your entire college education. Scholarships are also available through a wide variety of sources, including schools, private businesses, foundations, and nonprofit organizations.

See what scholarships are being offered in your area!

Work-Study is a type of financial aid that provides you with a part-time job while you’re enrolled in school. Part-time or full-time undergraduates, graduates, and professional students who express financial need and attend one of 3,400+ participating schools are eligible for this federal program.

Learn more about Work-Study.

A loan is money that you borrow with the expectation that you will pay it back, within a deadline laid out by your lender.

Students can borrow money through federal student loans, which are issued by the government, or private student loans, which are issued by non-government entities like banks and credit unions. To qualify for a private student loan, you’ll need to demonstrate your ability to pay the loan back, usually with a cosigner.

Learn more about loans.