The four basic types of financial aid are listed below. Students receiving financial aid may be awarded a combination, or package, of these four types, based on eligibility.
Grants are gift funds, generally based on financial need.
Scholarships are gift funds that do not have to be repaid, and may be based on high academic achievement, community service, a special talent, and/or financial need.
Loans are borrowed funds which must be repaid once you are no longer a student or drop below half-time (6 hours) status.
Work-study funds are earned by students by working part-time (average of 10-20 hours/week) for eligible employers. Students may earn wages up to the amount of their work-study award. As funds are earned, they are paid to the student employee bi-weekly.