What is Financial Aid Financial aid is any financial resource, other than what the student and family provides, that a student may receive to pay educational expenses.
Financial aid includes scholarships, grants, loans, and work programs.
When you apply for federal student aid, the information you report is used in a formula established by the U.S. Congress. The formula is applied to the application information you provide to determine your basic eligibility for Federal aid programs. You must be admitted before your aid can be awarded. Title IV programs include the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Arkansas Student Assistance Grant, Federal Work Study, Federal Stafford Loans for students, and Federal Parent Loans for Undergraduate Students. Students must be admitted and enrolled in a degree or certificate granting program.