Question: What types of financial aid are available?
Answer: There are four basic types of financial aid available:
- Grants- A grant is a form of funding that does not have to be repaid. The money can be used for tuition, room and board, books, and other school expenses.
- Student Loans- Student loans must be repaid. Loans may be subsidized or unsubsidized. The interest on subsidized loans is paid by the government while the student is enrolled in school and sometimes beyond. The student pays the interest on unsubsidized loans.
- Scholarships- Scholarships do not have to be repaid. They are awarded to students based on merit. Scholarships are awarded for athletics, music abilities, academics, group affiliations, etc.
- Work Study Programs- A work-study program allows tuition to be deferred if a student works in a particular field while attending school.
