Types of Federal Financial Aid
There are 3 categories of federal student aid:
- Grants provide financial aid which does not have to be repaid. Grants are awarded based on need. They are generally provided by the Federal government or individual states.
- Loans provide borrowed money that must be repaid with interest. There are many types of student loans, which may or may not be need-based. The Financial Aid office will determine your eligibility.
- Employment or work-study allows you to earn money to help pay for educational expenses while enrolled in school. Work Study programs provide students with employment opportunities both on and off campus, though it is up to you to secure employment. Participation in this program is typically based on financial need.
Scholarships are a different type of student aid which you do not need to repay and are generally reserved for students with special qualifications from a wide variety of sources. You can apply for scholarships through Idaho State University’s Scholarship Office.
How do I Qualify for Aid?
If you plan to utilize grants, loans or work-study funding to finance your education, you must complete a Free Application for Federal Student Aid (FAFSA), which will indicate what types of aid and what amounts of aid you qualify for.
Be advised that adjustments to your Financial Aid Award based on your enrollment status may be made.
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