What is financial aid?
Financial aid is a combination of scholarships, grants, low-interest loans and work-study. If you are eligible, your financial aid package will consist of aid provided by the federal government, the state of South Carolina, outside organizations and CSU. With contributions from students and parents, we all work together to make a secondary education possible for all students who desire one!
Financial aid comes in several different forms–grants, scholarships, work study, and student loans– and it is meant to assist you in financing your college education. It can be based on financial need, which is determined by your and your family’s income and resources, or it can be based on merit. To determine merit, Concordia looks at your SAT or ACT scores, grade point average, extracurricular activities, and demonstrated leadership abilities. Types of financial aid include: GRANTS are available through federal and state programs, and also through institutional programs. They do not have to be repaid, but are a gift to help you pay for a college education. One of the most commonly known grants for undergraduate students is the federal Pell grant. Concordia also offers a Concordia grant. SCHOLARSHIPS come in a variety of sizes. All of Concordia’s scholarships are merit-based. Like grants, they do not have to be repaid, but there are often requirements that must be met on a yearly ba
Financial aid comes from many sources, but basically has only three forms: grants/scholarships, work, and long-term educational loans. Grants and scholarships are free and do not need to be repaid. Grants are awarded based on need and scholarships are based on merit. Both student and parent loans will need to be repaid. Work is offered to students as part-time employment in college offices and departments. This aid enables students to attend the institution of their choice and to gain access to higher education. The degree to which a student and family can pay for educational expenses varies from family to family; thus, financial aid is awarded to supplement funds that the student and family are able to pay.
