Need is the difference between what it costs to go to college and what the student and family can afford to contribute towards those costs. Grants and scholarships are awards of money that do not have to be paid back. Grants are usually awarded to students with need. Scholarships have varying criteria which may or may not include financial need. Often scholarships are rewards for academic achievement.
Loans are funds that have to be paid back, usually after a student has graduated or left school.
Students are asked to complete entrance and exit interview requirements if they choose to borrow money through the student loan programs. The Office of Student Financial Aid may award a student a combination of grants, loans, and work in order to meet the student's need. At SFSU our financial aid funds are provided by the federal government and the State of California. The university scholarships are generally gifts from individuals and organizations. In order to determine what the student and family can pay towards the student's educational expenses, the student must apply for financial aid.