Types of Financial Aid

Front

Which type of financial aid is considered “free money” that does not need to be repaid and is usually based on financial need?

Back

Grant

Front

Which type of financial aid requires you to repay the money borrowed, often with added interest?

Back

Loan

Front

Which type of financial aid is awarded based on achievements such as academics, athletics, or talents, and does not need to be repaid?

Back

Scholarship

Front

Which type of financial aid provides part-time job opportunities for students to help pay for education expenses?

Back

Work-Study

Front

A student receives a letter stating they have been offered $3,000 in Federal Work-Study and $2,000 in Subsidized Loans. Which statement is TRUE about these types of aid?

Back

The work-study provides a job opportunity, while the loan must be repaid with interest.