Financial aid includes funds from the government, private organizations and/or from an educational institution to help students pay for their education. There are various types of financial aid including grants, work-study, loans and scholarships. Students who wish to apply for financial aid must first complete the Free Application for Federal Student Aid (FAFSA). This application determines federal, state and institutional need-based aid eligibility.
Financial aid can reduce the burden of tuition costs. Eligibility requirements for those applying for financial aid include citizenship, have a valid Social Security number, demonstrate satisfactory academic progress, and be enrolled or accepted for enrollment as a student working towards a degree or certificate in an eligible program.