Financial aid is money to help the students to pay for college. Grants, work-study, loans, and scholarships help make college A variety of financial aid sources are available to help the students to pay for college.
Auditing Statement 2020-21
Grants
A grant is a form of financial aid that doesn’t have to be repaid (unless, for example, you withdraw from college and owe a refund, or you receive a TEACH Grant and don’t complete your service obligation).
Scholarships
Many nonprofit and private organizations offer scholarships to help students pay for college. This type of free money, which is sometimes based on academic merit, talent, or a particular area of study, can make a real difference in helping you manage your education expenses.
Loans
When you receive a student loan, you are borrowing money to attend a college. You must repay the loan as well as interest that accrues. It is important to understand your repayment options so you can successfully repay your loan.
