Financial Aid Explained

Continuing your education can be an expensive proposition. Luckily there are multiple options for students looking for monetary assistance. The type of assistance varies as do the requirements for each. Financial aid can come from federal, state, school, and private sources to help you pay for college.


A grant is a form of financial aid that doesn’t have to be repaid. A variety of federal grants are available, including Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), Teacher Education Assistance for College and Higher Education (TEACH) Grants.


Many nonprofit and private organizations offer scholarships to help students pay for college. This type of monetary assistance, which is sometimes based on academic merit, talent, or a particular area of study, can really help offset the expenses of earning a college degree.


When borrowing money to attend a college, you must repay the loan as well as interest. It is important to understand your repayment options so you can successfully repay your loan. Many student loans do not have to be repaid until the student graduates.

Other Options

Federal Work Study programs allow students to earn money to pay for school by working part-time.

There are special aid programs or additional aid eligibility for serving in the military or for being the spouse or child of a veteran.

Federal aid may be available for studying at a school outside the United States, whether you’re studying abroad or getting your degree from an international school.

In addition to Federal financial aid, there might be monetary assistance at the state level, from your specific school or private sources.