- College And Career
Scholarships and Financial Aid
What is financial aid?
What is financial aid?
Financial aid is money that students receive to succeed in college, and that may come in the form of grants, scholarships, loans, or work-study. This includes the two years free grant for California students attending community colleges. Financial Aid is designed to supplement the amount you and your family contribute. There are four basic types of financial aid and they start with FAFSA or California Dream Act Application.
Grants: Awarded Based on Need; Student will not have to pay back a grant.
Scholarships: Awarded on special ability, academic achievement, religious affiliation, ethnic background, special interest, or random drawing; Student will not have to pay back a scholarship.
Work Study: A federal program offering part-time jobs both on and off campus. The student will not repay work-study funds because they are trading work for financial aid.
Education Loans: Funds borrowed from a financial institution or the federal government. Student must repay educational loans, usually with interest.
Money that the student will need to pay back includes:
Loans: Both subsidized and unsubsidized
- Subsidized: Government pays interest while the student is in school.
- Unsubsidized: Student is responsible for the cost of interest while in school.