Types of Financial Aid Grants Grants do not have to be repaid. They vary for each student, and eligibility is based on financial need. There are several types of loan programs available to students to help finance their education. In many cases eligibility is based on financial need, and amounts vary for each student. Loans must be repaid when the student graduates or ceases enrollment.
Interest rates are usually low and repayment can be up to ten years.
Penn State administers the Penn State University Loan, Federal Perkins Loan, Federal Stafford Loan, Federal Unsubsidized Stafford Loan, and the Federal Parent Loan for Undergraduate Students. At this time Penn State is recommending the Key Alternative Loan or the Plato Student Loan for students that need this kind of assistance. The primary purpose of work-study is to provide financial support through employment for students with a documented need. Students work an average of 15 hours per week and have their paycheck directly deposited into a checking or savings account. Penn State Behrend participates in the America Reads Challenge, an opportunity to earn money reading to and tutoring preschool and elementary school aged children.