What is Financial Aid?
Financial Aid is:
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Scholarships - Free money – you don’t have to repay
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Grants - Free money – you don’t have to repay
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Loans - Money you borrow that you DO have to repay
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Student Employment - Part-time job you have to work, in order to earn the money
Financial Aid can come from the following sources:
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Federal - Money from the federal government
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State - Money from the State in which you reside, for example, money from the state of Connecticut for Connecticut residents
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Institutional - Money from the University - Merit (based on Academic performance) or "need-based" (based on the results of the FAFSA)
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Private - Money from private agencies, organizations, civic groups, high schools, religious groups, etc.