There are different types of loans that you can use to pay for college. When you fill out the FAFSA, you might be offered two different types of loans: subsidized and unsubsidized loans. Subsidized loans are always better than unsubsidized loans. Subsidized loans are loans where you don't have to pay interest while you are in school. In contract, unsubsidized loans accrue interest the moment you take out the loan. So, always go for the subsidized loan when presented with these two options. Once you graduate from college, there will also be a post-graduation grace period where you still don't have to pay interest for subsidized loans. However, after this period is over, interest will start to accrue. 

Unlike loans, grants do not have to be paid back. Think of grants as free money. Grants can vary by school. One of the most popular grants is the Pell Grant. The Pell Grant is awarded to those who fill out the FAFSA and qualify for it. 

Like grants, scholarships also do not have to be paid back. 

Scholarships can come from many different places: your college, NY state, non-profit organizations, community groups, national foundations, etc. Some are based on financial need, some are based on merit.

There are scholarships out there for almost every type of students you just have to look for them.

One important thing to know is that scholarships are not automatic, most scholarships require a separate application. This means you have to be proactive: search early, apply often, and never assume you won't qualify.

A great place to start is by completing your FAFSA at studentaid.gov and your NY State TAP application at hesc.ny.gov, as both can unlock additional scholarship opportunities you may not even know exist. 

There is no limit to how many scholarships you can apply for. Even smaller awards add up quickly, so do not count anything out. The only scholarship you are guaranteed not to get is the one you never apply for.

Watch Out for Scholarship Scams: You should never pay  to apply for a scholarship. If a website asks for your bank information, charges you money, or guarantees you will win, it is likely a scam. Always verify the source before sharing any personal information.