What are the different forms of aid a student can receive?

Depending on your family’s financial situation, you may be eligible for a federally funded work-study job, grants (federal, state or institutional), need or merit-based scholarships (federal, state, institutional or general), subsidized or unsubsidized federal loans, and possible tax credits.

Students normally receive three different types of aid. These include scholarships offered by the college, work study issued by the government, and student loans and parents loans which must be paid back with schedules and interest.

Scholarships, loans, grants and federal work-study.

Students may be eligible for loans, grants, or scholarships. Federal loans and grants, like Direct Loans or Pell grants are determined through the use of the student FAFSA. Schools may have scholarships available to students based upon financial need. Additionally, students may use sites like www.fastweb.com to see if they may meet the qualifications for other scholarships available. Make sure to understand that a student should NOT have to pay for scholarship searches.

Financial aid can come in the form of free money: scholarships and grants. Financial aid can come in the form of work study hours: an on campus job scheduled around your classes. Financial aid can come in the form of loans: various platforms, all charging interest and offering various repayment plans. Financial aid awards may be a combination of the above, it just depends on your situation.