Learn the Financial Aid Language to get ahead!
Grants
Pell Grant – federal grant by the Department of Education
• Complete Free Application for Federal Student Aid (FAFSA)
• Be a U.S. citizen or eligible non-citizen
• Show demonstrated need
• For undergraduates seeking first bachelor’s degree
• Available to full-time or part-time students (pro-rated if part-time)
• Does not have to be repaid
ACG – Academic Competitiveness Grant
• Complete Free Application for Federal Student Aid (FAFSA)
• Be a U.S. citizen or eligible non-citizen
• Show demonstrated need
• Pell eligible
• Awarded to first and second year students
• Complete rigorous high school program
SEOG – Supplemental Educational Opportunity Grant
• Complete Free Application for Federal Student Aid (FAFSA)
• Be a U.S. citizen or eligible non-citizen
• Show demonstrated need
• Available to full-time or part-time students (pro-rated if part-time)
• Does not have to be repaid
States also offer their own state grants.
Scholarships
Institutional – school awarded scholarships based on academics, athletics, extracurricular, leadership, etc.
Miscellaneous – scholarships sponsored by corporate companies, organizations, businesses, student’s high school
Loans
Unsubsidized loan- accrues interest while you are in school and during repayment
Subsidized- DO NOT accrue interest while you are in school and during repayment
Stafford – loans awarded in two forms (1) subsidized and (2) unsubsidized
• Complete the Free Application for Federal Student Aid (FAFSA)
• Not based on need
• Supplements additional cost not covered by financial aid
• Co-signer not required
• Loan set at a fixed rate
• No payment while student is enrolled in school
• Subsidized loan interest is paid by the government, student pays loan
• Unsubsidized loan and interest paid by the student
Perkins – based on “exceptional” or extreme” need
• Complete the Free Application for Federal Student Aid (FAFSA)
• Co-signer not required
• Subsidized by the government
Parent PLUS – Parent Loan for Undergraduate Student
• Available to parents to cover additional college cost for student
• Unsubsidized loan
• Accrues interest while student in school
• Payment begins after last installment paid
Work Study
Federal Work Study (FWS)
Employment can be on or off campus. In order to qualify for Work study you must:
• Complete the Free Application for Federal Student Aid (FAFSA)
• Show demonstrated needed
Non Federal Work Study
Employment is not based on need. Check with your college for job opportunities. In order to qualify for Non Federal Work Study you must:
• Complete the Free Application for Federal Student Aid (FAFSA)
• Not be eligible for Federal Work Study
Funded by the City of San Antonio