Types of Aid

Types of Aid

There are four types of financial aid:

  • Grants - Awards are usually based upon financial need and do not need to be paid back.
  • Scholarships - Awards are usually based upon merit or achievement and do not need to be paid back.
  • Loans - Awards need to be repaid with interest.
  • Work-Study -- Award must be earned by working.

These four types of financial aid have different funding sources. They are:

  • Federal Grants
  • Federal Work-Study
  • Federal Loans
  • State Grants
  • La Roche Grants
  • La Roche Scholarships
  • Endowed and Annual Scholarships
  • Private Loans