Types of Financial aid
A federal student aid program that provides part-time employment while you are enrolled in school to help pay your education expenses. Federal Student Aid Financial aid from the federal government to help you pay for education expenses at an eligible college or career school.
Types of Financial Aid. There are two basic types of financial aid — gift aid and self-help aid. Like the name says, gift aid is assistance received that does not typically have to be repaid. Self-help aid includes work opportunities and loans, and is called self-help because the individual takes responsibility for receiving this type of aid.
Grants and Scholarships Grants and scholarships are often called “gift aid” because they are free money—financial aid that doesn’t have to be repaid. Grants are often need-based, while scholarships are usually merit-based.
HSU Financial Aid has some of its own institutional money; funds are very competitive and also limited, which is why we highly encourage students to submit a Financial Aid application and apply for scholarships on the first day applications are available.
If you apply for financial aid, you may be offered loans as part of your school’s financial aid offer. A loan is money you borrow and must pay back with interest. If you decide to take out a loan, make sure you understand who is making the loan and the terms and conditions of the loan.
Private Student Financial Aid. Private Financial Aid. Financial aid from private resources can be the most elusive of all aid programs.
Scholarships.com - Financial Aid. Financial Aid. The financial aid process is daunting, especially when going through the process without help from a reliable source.
Self-help financial aid is aid that the student earns through work or is required to pay back. Student loans and work-study are both self-help aid. Student loans and work-study are both self-help aid.
State Financial Aid Programs Almost every state education agency has at least one grant or scholarship available to residents, and many have a long list of student aid programs. Eligibility is usually restricted to state residents attending a college in-state, but that's not always the case.
Federal Work-Study provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student’s course of study.