Sources of Financial Aid
are funds, often awarded by colleges or universities, that do not need to be paid back. Students do not need to complete an application for grant monies. Federal and state grants, such as Pell and TAP, are also available.Work Study
is a federal program that gives students financial assistance through campus employment.Loans
are a form of financial aid that must be paid back after graduation. Below is a list of loan providers:
- Stafford Loans can be subsidized or unsubsidized. In the case of subsidized loans, the government pays the interest while a student is in school. For unsubsidized loans, the student pays the interest on the loan and can defer payment until after graduation. Stafford Loans are awarded based on financial need.
- Perkins Loans are awarded to students with exceptional financial need.
- PLUS Parent Loans are awarded to parents and have an interest rate higher than that of the unsubsidized Stafford Loans.
- Private Loans