Scholarships & Financial Aid
Federal Aid: Aid that comes from the U.S. government. Usually distributed through the college.
Gift Aid: Financial aid that does not need to be paid back:
- Grants - Typically based on financial need
- Scholarships - Typically based on achievement or talent.
Loans: Funds that must be paid back later, with interest. Federally-guaranteed loans can be from a private lender (e.g. a bank) or form the federal government (administered by the college). Private loans are offered by private lenders with terms set by the lender, not the government.
Private Aid: Financial aid from non-goverment sources.