Your financial aid award letter will list each type of aid separately, such as scholarships, grants, loans, and work-study and the annual amount of each type. These programs are funded from a variety of sources - federal, state, university and private. Each type of aid has its own eligibility requirements. Some require repayment and others do not. You can check out examples of scholarships under University Scholars Program .
Wages vary according to position and are paid directly to the student.
Loans are also considered self-help and must be repaid with interest. However, since most loans are subsidized by the federal or state government, they typically have lower interest rates and require repayment only after graduation or after leaving school. Although not indicated on your Financial Aid award letter, interest-free tuition payment plans are available. These allow payment of university charges in equal monthly installments beginning in the summer.