What is Financial Aid?

Financial Aid is:

1. Scholarships - Free money – you don’t have to repay

2. Grants - Free money – you don’t have to repay

3. Loans - Money you borrow that you DO have to repay

4. Student Employment - Part-time job you have to work, in order to earn the money

Financial Aid can come from the following sources:

1. Federal - Money from the federal government

2. State - Money from the State in which you reside, for example, money from the state of Connecticut for Connecticut residents

3. Institutional - Money from the University - Merit (based on Academic performance) or "need-based" (based on the results of the FAFSA)

4. Private - Money from private agencies, organizations, civic groups, high schools, religious groups, etc.