Understanding Types of Financial Aid
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Types of Federal Student Aid
There are four primary sources of funding for students, and not all of them need to be paid back:
Grants
A grant is a form of financial aid that doesn’t have to be repaid (unless, for example, you withdraw from school and owe a refund, or you receive a TEACH Grant and don’t complete your service obligation). A variety of federal grants are available, including:
• Pell Grants,
• Federal Supplemental Educational Opportunity Grants (FSEOG),
• Teacher Education Assistance for College and Higher Education (TEACH) Grants, and
• Iraq and Afghanistan Service Grants.
• To learn more, visit Federal Grants | Louisiana Grants
Scholarships
Many nonprofit and private organizations offer scholarships to help students pay for college or career school. This type of free money, sometimes based on academic merit, talent, or a particular area of study, can make a real difference in helping you manage your education expenses.
To learn more, visit External-Internal Scholarships
To apply for scholarships, visit https://subr.scholarshipuniverse.com
Work-Study
The Federal Work-Study Program enables you to financially support your education through part-time employment, earning at least the prevailing federal minimum wage. The overall work-study award you receive is contingent upon factors such as the timing of your application, your financial need, and your school's funding availability.
To learn more, visit Federal Work-Study Program
To apply for jobs, visit: https://www.sus.edu/jobx
Loans
A loan is money you borrow and must pay back with interest. If you apply for financial aid, you may be offered loans as part of your school’s financial aid offer. When you receive a student loan, you borrow money to attend a college or career school. You must repay the loan as well as the accrued interest. It is essential to understand your repayment options to repay your loan successfully.
To apply for jobs, visit: Federal Stafford Loans | Federal Direct Plus Loans
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