Unfortunately, most colleges and universities are not free. They all have a cost of attendance, which usually breaks down into direct and indirect costs.

Direct costs are what you pay the school directly - your tuition, dorm, meal plan, fees etc. Indirect costs are what the school estimates you'll pay for books, transportation, and general student life.

Financial aid is meant to help you cover those costs (and in some cases, cover all of it!). Financial aid is usually divided into three categories:

• Grants - free money you never have to pay back. Obviously the best type you can receive. You are eligible for this money by completing your FAFSA, TAP, and CSS Profile.

• Loans - money you are borrowing from the government that you will have to pay back eventually. Not ideal, but in some cases, help make colleges affordable.

• Work Study - money you earn by finding a job on campus. Usually use this money to pay for your indirect costs.