Financial Aid and Scholarships
Here you will find information on federal student assistance, local and national scholarships, and private loan organizations.
To help you in your research, here are definitions of major forms of financial aid:
Grants and scholarships are the most desirable types of financial aid, because both involve money that does not have to be repaid. Generally, grants are awarded based on need, and scholarships are awarded based on merit. Grants are available through the federal government, the state government, colleges and universities, and private sources and organizations.
Federal College Work-Study is what is referred to as “self-help” aid. It is need-based, but must be earned through work. Most work-study jobs are on campus, but occasionally students are allowed to earn this money while working for a nonprofit organization off campus. It is expected that the money earned at these part-time jobs will be used for the students’ educational expenses.
Loans are also “self-help” aid. Loans are low-interest and must be repaid to the lender. Education loan programs are sponsored by many states and the federal government, and are available through colleges, banks, and private loan organizations. Many programs postpone repayment until six months after a student leaves college for any reason, regardless of graduation status.