Understanding Your Financial Aid Plan

Understanding Your Financial Aid Plan

Scholarship and grant aid are considered gifts and do not need to be repaid. Loans do need to be repaid and should be considered as serious commitments. Work-study is a way for students to earn money through a part-time job in order to contribute to their college costs.

All students are considered for all types of aid, and financial aid plans are created according to a student's eligibility in each program. Students must make satisfactory academic progress each semester to maintain financial aid eligibility. The financial aid plan is conditional based upon continuation of legislative authority and availability of appropriated funds. Financial aid plans are based on data provided by the student on the Free Application for Federal Student Aid (FAFSA). Adjustments resulting from income, verification, changes in enrollment or housing status, or receipt of additional college or outside funding and scholarships may result in revisions to an original plan for financial aid.

Descriptions of the primary sources of financial aid are as follows: