Need is the difference between what it costs to attend a college and what you and your family can afford to pay toward the costs. You are usually eligible for financial aid equal to the amount of your demonstrated need. Grants are usually based on need. Scholarships may be based on need, but some reward students for academic excellence, leadership, and community service. Loans are funds that must be repaid, usually after graduation or leaving school.
Student loans have lower interest rates than most commercial loans.
If you receive a loan, you must attend an entrance interview before receiving your first check and an exit interview before you leave the University. Work-Study involves earning money as payment for a job. If you receive aid, the Financial Aid Office will put together a combination of different types of aid. Since cost of attendance includes room and board, your costs will be affected by whether you live at home and commute or live on or near the campus. The budget in the box below is used by the FAO to compute your financial need.