Types of Financial Aid
Financial aid is money to help pay for college or career school. Aid can come from:
- the U.S. federal government,
- the state where you live,
- the college you attend, or
- a nonprofit or private organization.
Federal student aid includes:
- Grants—financial aid that doesn’t have to be repaid
- Loans— borrowed money for college or career school; you must repay your loans, with interest
- Work-Study—a work program through which you earn money to help you pay for school
If you are an undergraduate student, your financial aid package may be comprised of many different types of awards: grants, scholarships, tuition waivers, loans and work-study. These awards can range in size from hundreds to thousands of dollars. The type of aid you receive will depend on whether it is need-based (determined by your demonstrated financial need) or non need-based (determined by merit or other factors).
Most aid for graduate students is in the form of loans. Graduate students may also receive assistantships from the Graduate Admissions Office or from their department of study.
The links on the left of this page are the types of aid programs LHU students can receive to assist with payment of education expenses.