Most students use some combination of aid to pay for school. Most types of financial aid require that you complete the Federal Application for Student Aid.

Grants

You do not repay this money, it is awarded based on need or achievement by the federal and state governments, or by the school. You must fill out the Federal Application for Student Aid (FAFSA) to qualify for governmental grants.

Student Loans

Loans must be paid back. Federal loans, such as the Perkins or Staffords, have more favorable interest rates and can be need based. Private, or alternative loans, require a credit check and your lender determines the terms.

Scholarships

You do not need to repay scholarships. Most scholarships are based on some attribute or accomplishment that you have. You usually have to search for an apply to scholarships separately from the FAFSA. For a list of scholarship search sites, click here.

Work Study

This is money that you earn while in school. The income you receive does not count towards your income on next year's FAFSA. Work study jobs are usually on campus and have more flexibility than off campus employment.