By: Marissa Williams
Financial Aid is money that assists students when it comes to educational
expenses.This can include tuition, housing, or fees. When it comes to financial aid,
students don’t know where to start. This guide will help students have a better
understanding of what aid is and how to move forward with receiving it!
Kinds of Financial Aid
When it comes to aid, there are four main types that a student can receive:
grants, loans, scholarships, and work study jobs.
Grants are funds that you receive, and they do not have to be paid back. Grants
are gifted based on financial need. Your financial need is determined once you fill out
the FAFSA (which will be covered later in the blog!). Grants can also be specific to
states, such as the PA State grant.
Loans are funds that are given to students with the intention of being repaid with
added interest. Loans are broken down into 2 main categories: Subsidized and
Unsubsidized Loans. Subsidized loans are directed toward undergraduate students who
have financial needs. Unsubsidized loans are mainly for any student, including
undergraduate, graduate, and professional students.
Work study allows students to work part time jobs to help them earn money for
educational expenses. There is a Federal Work study program that provides these jobs
for students. These jobs can be on campus or off campus and students are paid hourly.
Scholarships are also considered, “gift aid”. When most student think of financial
aid, they think of scholarships. Scholarships can be awared for academics, sports,
service, etc. They can be merit based, need based, identity based, or specific to your
deseried major and or career. Most universities and colleges offer their own
scholarships. They usually have specific requirements in order to qualify for their
scholarships.
The different steps to take
1. Talk to your counselor
Ask your college counselor for help. They are here to help you through any post
secondary needs. They will know where to help you start!2. Fill out FAFSA
FAFSA is open for the 2026-2027 cycle! Fill it out as soon as possible. If you are unsure
what FAFSA is, read below! There is a brief explanation of what exactly FAFSA is.
What is FAFSA?
FAFSA is the Free Application for Federal Student Aid. Families can apply for grants,
work study, and loans through this application. Families apply online and it determines
their students eligibility for loans, grants, etc. When filling out the application it also
sends your form to at least one college or university you applied to in order for the school
to receive your financial information/needs.
3. What aid is a college or university offering
Understand what kind of aid a school is offering. Before accepting the offer, talk to family
members, counslers, etc. For more information about your offer, reach out to the school
for any clarification.
4. Receiving your aid
Once you accept the offer, the college or university will credit it by putting it in the
students school account. This money can be used for any educational expenses
including tuition, fees, housing, etc. Then students will be on there way!
Check out these links!
Understand Financial Aid | Federal Student Aid
How Financial Aid Works | Federal Student Aid