Financial Aid
Financial Aid
Financial aid is money to help pay for college or career school. Grants, work-study, loans, and scholarships help make college or career school affordable. The information below is from www.studentaid.gov.
Grants
A grant is a form of financial aid that doesn’t have to be repaid (unless, for example, you withdraw from school and owe a refund, or you receive a TEACH Grant and don’t complete your service obligation). A variety of federal grants are available, including:
Pell Grants,
Federal Supplemental Educational Opportunity Grants (FSEOG),
Teacher Education Assistance for College and Higher Education (TEACH) Grants, and
Iraq and Afghanistan Service Grants.
Scholarships
Many nonprofit and private organizations offer scholarships to help students pay for college or career school. This type of free money, which is sometimes based on academic merit, talent, or a particular area of study, can make a real difference in helping you manage your education expenses.
Work-Study Jobs
The Federal Work-Study Program allows you to earn money to pay for school by working part-time. You’ll earn at least the current federal minimum wage. However, you may earn more depending on the type of work you do and the skills required for the position. Your total work-study award depends on
when you apply,
your level of financial need, and
your school’s funding level.
Loans
A loan is money you borrow and must pay back with interest. If you apply for financial aid, you may be offered loans as part of your school’s financial aid offer. When you receive a student loan, you are borrowing money to attend a college or career school. You must repay the loan as well as interest that accrues. It is important to understand your repayment options so you can successfully repay your loan.
Find more information about loans HERE.
“Types of Federal Student Aid” Video
Check out this video to learn about federal grants, loans, and work-study jobs and how they can help fund your education.
Pennsylvania Higher Education Assistance Agency (PHEAA)
PHEAA is a national provider of financial aid services, serving millions of students and thousands of schools through a variety of student aid programs.