Undergraduate Catalogue

Types of Financial Aid

There are three types of aid:

  • Scholarships/grants are funds awarded on the basis of financial need, academic promise, special skills or a combination of these. Such funds do not have to be repaid.
  • Loans are funds that must be repaid. This form of aid provides students the opportunity to borrow against future earnings.
  • Employment opportunities enable students to use current earnings toward educational expenses.