Embedded Files
Financial aid is money awarded to students to help cover the cost of a post-secondary education. This can come from the federal or state governments, community and/or private organizations, colleges, and more. There are 3 main types of financial aid awarded to students that are discussed below. Click on the links for each for more information. Students must complete a FAFSA in order to be awarded financial aid. Create your FSA ID as your first step.
More info about FAFSA here.
Free Money
Need or Merit Based
No requirement to be paid back
Offered at the National, State, and Local Levels
Offered by Colleges/Universities
Free Money
Usually Need-Based
No requirement to be paid back
Offered at the National and State Levels
Ex. Pell Grant
Not Free Money
Covers gap between aid and cost of attendance
2 Types: Subsidized (no interest) Unsubsidized (interest)
Parents can take out Parent PLUS Loans
Work Study: This is a federal program that provides part-time jobs to students allowing them to earn money to help pay educational expenses. Students must indicate that they are interested in work-study on their FAFSA. Eligibility for work study is based on financial need.
Page updated
Google Sites
Report abuse