WHAT IS FINANCIAL AID?
Financial aid is money that helps students pay for college or career school. It can come from a variety of sources, including the federal government, state governments, colleges, and private organizations.
Financial aid can take the form of:
- Grants: Money that doesn't need to be repaid, usually based on financial need
- Scholarships: Free money based on academic or other achievements, or financial need
- Work-study jobs: Part-time, paid work that's usually on campus
- Loans: Money that needs to be repaid, usually after graduation
To receive financial aid, you'll need to apply. The Free Application for Federal Student Aid (FAFSA) is a free application that gives you access to many types of aid. The amount of aid you receive depends on your Expected Family Contribution (EFC), year in school, enrollment status, and your Cost of Attendance (COA).
