Types of Financial Aid
What is a grant?
Grants = free money you don’t have to pay back.
What are the two types of student loans?
Federal student loans
Private loans
True or False?
I can apply to an unlimited amount of scholarships?
TRUE!
There is NO LIMIT to how many scholarships you can apply to.
What is a scholarship?
Scholarships = free money you don’t have to pay back.
When do financial aid applications open this year?
October 1, 2025 for 2026-2027
Which type of loan comes from the government, often with lower interest rates and more flexible repayment plans?
Federal student loan
Where can you find scholarships to apply to?
Weekly senior email
What is a student loan?
Loans = borrowed money that you must repay with interest.
When is the financial aid deadline?
State aid-March 1st to July 1st (depending on programs), Federal-June 30th
Where do private loans come from?
Banks or private lenders
True or false?
My parents make too much money. I should not apply for financial aid.
FALSE
EVERYONE should submit a financial aid application. The only way to know exactly how much money you can receive is by turning in an application.
What is work-study?
Work-study = a part-time job either on campus or off campus that helps you earn money while attending school.
What does FAFSA stand for?
Free Application for Federal Student Aid
What is a subsidized loan?
The government pays the interest while you’re in school.
True or False?
I don't have good grades, I won't qualify for any scholarships.
FALSE
You can get a scholarship based on financial need, special talents, extracurricular activities, characteristics or traits
There are 4 types of financial aid. Name all 4
Grants
Scholarships
Loans
Work-study
Why is AGI or Adjusted Gross Income so important and where can it be found?
Helps determine how much aid one will receive and can determine grants, work-study programs and need based scholarships
Found on IRS form 1040-parent's tax information
What is an unsubsidized loan?
The loan starts accumulating interest as soon as they’re borrowed.
What is one thing you learned about financial aid today?
Wait for responses.