Paying For College

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What is a scholarship?

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A scholarship is a form of financial aid awarded to students based on academic or other achievements, which does not need to be repaid.

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What is a grant?

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A grant is a type of financial aid that does not need to be repaid, typically awarded based on financial need.

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What is the difference between scholarships and grants?

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Grants are usually need-based, while scholarships are often merit-based.

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What is work-study?

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Work-study is a federal program that provides part-time jobs for students with financial need, allowing them to earn money to help pay for college.

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What is a loan in the context of college funding?

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A loan is borrowed money that must be repaid with interest, often used to cover college expenses.

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What is the purpose of financial aid?

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Financial aid helps students pay for college expenses, making education more accessible.

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What are federal student loans?

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Federal student loans are loans provided by the government to help students pay for college, with lower interest rates and flexible repayment options.

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What is the FAFSA?

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The FAFSA (Free Application for Federal Student Aid) is a form that students fill out to determine their eligibility for financial aid.

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What is a need-based financial aid?

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Need-based financial aid is awarded based on the financial situation of the student and their family.

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What is a merit-based financial aid?

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Merit-based financial aid is awarded based on a student's academic, artistic, or athletic achievements.