Types of Financial Aid

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Students and Families

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Financial aid is any type of assistance used to pay college costs.

  • Grants do not need to be repaid and are available through federal and state governments, state agencies, and individual colleges.
     
  • Scholarships do not need to be repaid and are awarded based upon criteria established by the donor.
     
  • Student Loans must be repaid, which are low-interest loans sponsored by the federal government.
     
  • Work Study is a federal program which provides students with part-time employment to help meet their financial needs while giving them work experience in their campuses or community.

Apply for Financial Aid

  1. Apply online with the OSAC Scholarship Application
  2. Fill out the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov.

To learn more about the terms used in college financial planning, check out our Financial Aid Glossary.