What is financial aid?
Financial aid is money that is given, paid or loaned to you to help pay for your college. There are several types of financial aid for college students: • Grants & Scholarships – are given as awards and do not require repayment. • Loans – are borrowed from a lending institution. You are required to repay the loans with interest and loan related fees. • Work-Study Employment – is on-campus and approved off-campus employment which allows you to earn money for your education.
A. Financial aid refers to federal, state, and private resources that may help pay for college costs. Typically, financial aid consists of grants, scholarships, and loans. Grants and scholarships do not have to be repaid. Loans must be repaid with payments usually beginning after the student is no longer enrolled at least half time. Student employment consists of opportunities for students to earn money to pay for educational expenses.
Financial aid is monetary assistance offered to eligible students to help meet their educational expenses. Aid can come to two categories. Gift aid includes grants, scholarships and stipends that do not have to be paid back. Self-help aid is educational loans such as the Stafford and Perkins, which must be paid back, and/or college work study, which is money earned from employment on campus or in non-profit organizations.
A. Financial aid is the name used for federal, state and private resources that may help you pay for education related expenses. Financial aid may consist of grants, scholarships, loans and student employment. Grants and scholarships do not have to be repaid. Loans must be repaid. Student employment consists of job opportunities for students to earn money to pay for education related expenses. Q.
Financial aid is monetary assistance to help a student cover the cost of a college education, who otherwise would be unable to pursue their education. It is intended to supplement the family contribution and includes gift aid, (scholarships and grants), low-interest loans and part-time employment.
