Funding Your Education

Understand the trade-offs before you choose

Scholarships, grants, work-study, and loans can all help fund your education—but they work differently. Compare what each option offers and what it asks of you.

Your priorities

No repayment expected Based on financial need No work requirement Broader availability

Keep these in mind as you look through the tabs below—each aid type is marked with the priorities it meets.

Aid type 1 of 4

Scholarships

Awards based on criteria such as achievement, identity, affiliation, field of study, or community involvement.

No repaymentRepayment

Generally no repayment

What it offers

  • Generally does not require repayment
  • Can come from schools, employers, foundations, or community groups
  • Some awards renew for more than one academic year

What to consider

  • Eligibility and application requirements vary
  • Deadlines may fall well before the academic year
  • Renewal may depend on enrollment or academic standing
Best forStudents who can apply broadly and meet specific eligibility criteria.

Aid type 2 of 4

Grants

Aid commonly provided by federal, state, institutional, or private programs, often based on financial need.

No repaymentRepayment

Generally no repayment

What it offers

  • Generally does not require repayment
  • May be available from several public and institutional sources
  • Can reduce the amount a student needs to earn or borrow

What to consider

  • Eligibility and amount can change with financial circumstances
  • Funding may be limited
  • Enrollment changes can affect eligibility or award amount
Best forStudents who qualify for need-based or program-specific assistance.

Aid type 3 of 4

Work-Study

Part-time employment connected to a financial-aid award, with wages earned as the student works.

No repaymentRepayment

Earnings are not repaid

What it offers

  • Provides income while enrolled
  • May offer work experience connected to campus or community service
  • Schedules are often designed around classes

What to consider

  • Requires time alongside coursework
  • An award does not always guarantee a job placement
  • Earnings are received through wages rather than as an up-front tuition credit
Best forStudents who want income and can balance a part-time position with classes.

Aid type 4 of 4

Loans

Borrowed funds that generally must be repaid with interest under the terms of the loan.

No repaymentRepayment

Repayment required

What it offers

  • Can cover costs remaining after other resources
  • Federal options may include borrower protections and repayment choices
  • Can make enrollment possible when other aid is insufficient

What to consider

  • Principal and interest generally must be repaid
  • Terms differ between federal and private loans
  • Borrowing affects finances after leaving school
Best forConsidered after reviewing gift aid, earnings, total cost, and repayment terms.
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