What are the types of Financial Aid?

Financial Aid Language

Loans:

  • Unsubsidized loan– accrues interest while you are in school and during repayment
  • Subsidized- DO NOT accrue interest while you are in school and during repayment
  • Stafford – loans awarded in two forms (1) subsidized and (2) unsubsidized
  • Perkins – based on “exceptional” or “extreme” need

Grants:

  • Pell Grant– Federal grant by the Department of Education
  • SEOG– Supplemental Educational Opportunity Grant

Scholarships:

  • Institutional – school awarded scholarships based on academics, athletics, extracurricular, leadership, etc.
  • Miscellaneous – scholarships sponsored by corporate companies, organizations, businesses, student’s high school

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