Financial aid is awarded to students based on merit, financial need or both.
Merit-based scholarships are awarded based on academic achievement, particular skills or special characteristics.
Need-based aid is given to students who demonstrate financial need, based on Free Application for Federal Student Aid (FAFSA) results. There are three types of aid:
- Grants and scholarships are gifts that do not have to be repaid.
- Federal Work Study funding is money you earn by working at a part-time job.
- Loans are borrowed money that must repaid over a period of time.