These are financial aid dollars that do not have to be repaid.
There are federal, state and institutional grants.
Most grants are awarded based on financial need, but sometimes they are awarded to students who wish to pursue specific researching in a given field.
Filing the FAFSA is the most effective way to apply for federal and state grants.
Colleges also use information received from your FAFSA to award institutional grants to students with financial need
You must file your FAFSA by APRIL 1 to be eligible for state grants
What is a loan?
These are financial aid dollars that must be repaid with interest.
There are several types of loans available to students
Federal subsidized student loans, federal unsubsidized student loans, federal Parent PLUS loans, and private loans.
All federal loans allow for a six-month grace period after a student graduates or drops below half time enrollment before the repayment period begins
Federal student loans and Parent PLUS loans are awarded through the FAFSA.
Private student loans can be found through a number of sources like banks, credit unions, credit card companies, etc
Scholarships
What is a scholarship?
These are financial aid dollars that do not have to be repaid.
Scholarships come from a variety of sources like colleges, organizations, businesses, and churches. They can be national, regional, or local
They are awarded based on a variety of eligibility requirements like academics, financial need, community involvement, organizational affiliation, race, religion, essay writing, artistic ability, etc.
Some are renewable and some are awarded as a lump sum.
Most colleges have non-competitive academic scholarships available. To get these, you simply have to meet a minimum GPA and ACT/SAT score.
Colleges award scholarships through an application process