Pay for College Old

Paying for College

Now is a great time to consider how you’re going to pay for college. The following will give you a better understanding of the process and the options available, including scholarships, grants, loans, and work study.

Types of Financial Aid

Let’s quickly go over each of the options that might be included in your financial aid package.

Scholarship

A scholarship is awarded based on your academic achievement or other specific criteria. Scholarships don’t need to be paid back. It’s like free money. Completing the FAFSA may be necessary for many scholarships. Please be aware that you should never pay for scholarship opportunities.

Grant

A grant is money given to you typically based on financial need, usually by the government, that you don’t have to pay back. Fill out the FAFSA to find out if you’re eligible for any grants.

Loan

A loan is money that you borrow, usually from the government, that not only needs to be paid back but will include interest. Fill out the FAFSA to find out if you’re eligible for any loans.

Work Study

While in college, you may consider getting a job on campus. Federal Work-Study (FWS) provides the opportunity to possibly get a part-time job easier for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. So, fill out the FAFSA to find out if you’re eligible for Work Study.

Check out the Financial Resources for Students page for links to local and national resources.