How do colleges determine the percentage of gift aid (financial aid that does not have to be repaid) vs. self-help aid (loans and work-study) that comprises a financial aid award?
Only a small number of schools nationwide are in a financial position to meet need without loans. Most colleges adhere to a philosophy that students receiving need-based aid should assume some financial responsibility for their education. The vast majority of schools meet need through a combination of gift aid and self-help aid. The percentages of gift aid vs.self-help aid are generally determined by both the financial strength and philosophy of the institution.
Related Questions
- How do colleges determine the percentage of gift aid (financial aid that does not have to be repaid) vs. self-help aid (loans and work-study) that comprises a financial aid award?
- How does the Office of University Financial Aid determine how much gift, loan and/or work study assistance a student will receive?
- How do you receive financial aid (Pell Grant, student loans, college work-study, and aid from selected colleges)?
