Types of Financial Aid
Financial aid consists of any grant, scholarship, loan or employment program offered for the purpose of helping students meet educationally related expenses. Such aid is provided by or through federal and state agencies, foundations, corporations and the colleges and universities themselves. The financial aid award is based on your individual financial need and eligibility, and may include various types of aid. This is your financial aid package. This package may include any combination of the following:
Grants : Money which does not have to be repaid and is awarded to students who possess financial need as determined by the FAFSA.
Federal Work Study : Employment opportunity on campus to students who possess financial need as determined by the FAFSA.
Scholarships : Money based on academic performance of achievement which can be offered by Potomac State College or an outside source.
Loans : Money that student and/or their parents borrow for college expenses which must be repaid, usually after the student is no longer enrolled in college courses.