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