Student Aid Program Summary
Most federal student aid is need-based, taking into account
an expected family contribution (EFC). Need-based financial
aid comes in three basic types:
- Grants and scholarships, which are considered gift
aid and generally don't have to be paid back (sometimes
a repayment is required if a student withdraws);
- Work-study, which is money that you earn by working
part-time while in school; and
- Loans, which are
funds that you (or your parent) borrow and must be
paid back, usually after you leave school.
The following chart details the main federal student aid
programs administered by the U.S. Department of Education.
Not all schools participate in all of the programs listed.
