Financial Aid 101

Financial Aid 101

The Basics

  • There are two basic types of financial aid:
    • 1. Self-Help, which consists of loans and work-study.
    • 2. Gift Aid, which consists of grants and scholarships.
  1. The two factors determining the amount and type of financial aid are:
    1. 1. The two factors determining the amount and type of financial aid are:The merit of the student (scholastic, athletic, musical talent, etc.)
    2. 2. The financial need of the student, financial need is the most important factor in determining financial aid.

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