Financial Aid is any grant or scholarship, loan, or paid employment offered to help a student meet his/her college expenses. Such aid is usually provided by various sources such as federal and state agencies, colleges, high schools, foundations, and corporations. The amount of financial aid that a student receives is determined through federal, state and institutional guidelines. Financial aid helps students pay for college. It often covers educational expenses such as tuition and fees, room and board, books and supplies, and transportation. There are several types of financial aid, including grants and scholarships, work study and loans. Grants include aid the student receives that need not be repaid; loans must be repaid. Interest rates and repayment terms vary by program.

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