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Financial Aid: Grants, Scholarships, Work-Study & Loans
Understand the major pieces of a college aid offer before comparing the bottom line.
College Money · 5 min
Step 1
Grants and scholarships generally do not need to be repaid when their requirements are met. Loans are borrowed money that generally must be repaid with applicable interest. Work-study is earned through eligible employment.
Step 2
Compare the actual amount you may need to pay or borrow after grants and scholarships, not just the total aid number shown.
Step 3
For federal aid, use official government and school financial-aid sources for current eligibility, deadlines, and program rules.
Try this: Track expected school costs and any loan balance separately so you can see the full picture.