Types of Financial Aid
In general, financial aid is grouped into two primary categories: Gift Aid and Self Help Aid. Gift Aid, as the name indicates, is money that is gifted to the student and does not need to be repaid. It is usually referred to as a scholarship or grant. Scholarships are generally merit-based, and grants are typically need-based. Self Help Aid includes student loans and work study, financial aid that you are using to help yourself achieve your goals.