At first, financial aid may sound like a foreign language. But once you understand the concepts and terminology, you'll quickly become fluent in it.
Types of Financial Aid
Financial aid is a broad term that represents any financial assistance you receive to help pay for your education. There are several types of financial aid. You'll need to repay some types, while others are gifts that don't require you to pay them back. The most common types of financial aid are scholarships, grants, loans and employment.
The only way to know to be sure if you're eligible to receive financial aid—and the amount you may receive—is by filling out the Free Application for Federal Student Aid (FAFSA).
Financial Aid Steps to Complete
Use the Financial Aid Guide to ensure that your financial aid will be applied to your bill. These steps also will help you determine how much you may owe (if anything) at the start of the semester and what options you have to help cover those costs.