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Colleges have different deadlines, scholarships come with various eligibility criteria, and grants can require some paperwork that takes time to gather. Heres a quick review of what financial aid actually refers to: Grants: Money you dont have to pay back (yay!). Research Scholarships Start looking for scholarships now.
There are three main types of financial aid: Grants : These are usually need-based and dont need to be paid back. Scholarships : Often awarded based on merit (like academic performance, sports, or talent) and do not need to be repaid. Now Enrolling: College Financial Aid Advising for the Class of 2026-2027!
This application is essential for determining a students eligibility for various forms of Federal, state, and private financial aid such as grants, scholarships, work-study programs, and loans. For the 2025-26 school year, it is June 30, 2026. After July 1, 2026, undergraduate student loans will carry an interest rate of 6.39%.
While grants and scholarships provide much-needed assistance, loans often make up a significant portion of the aid package. Understanding Financial Aid Packages: Financial aid packages typically consist of a combination of grants, scholarships, work-study opportunities, and loans.
It opens doors to federal grants, loans, and work-study opportunities. If you want to read some of my tips to prepare for the 2025-2026 FAFSA, check out recent blogs here! Grants vs. Loans : Grants are free money for college that you don’t have to repay, while loans are borrowed funds that must be repaid with interest.
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