There are three types of college financial aid: Grants and scholarships, federal work-study, and student loans.Grants and scholarships are forms of aid you don’t need to repay, which means it’s free money! Federal work-study provides you with on-campus (sometimes off-campus) work opportunities, while student loans need to be repaid with interest.Apply for these opportunities is by filling out the Free Application for Federal Student Aid (FAFSA). This form determines your eligibility for federal aid programs. You’ll need to provide your personal information, your family’s income, and other information. The FAFSA is available online at The Federal Student Aid website. Make sure to fill it out as soon as possible after October 1st.