Types of Financial Aid

 

Scholarships and Grants

Merit-based Scholarships
Merit-based scholarships are awarded to students based on their academic achievements, extracurricular involvement, or other talents. These scholarships do not need to be repaid and can significantly reduce the cost of tuition.

Need-based Grants
Need-based grants are provided to students who demonstrate financial need. These grants, like scholarships, do not need to be repaid. The most well-known need-based grant is the Pell Grant, though it primarily serves undergraduate students. Graduate students may qualify for other need-based grants through their institutions or private organizations.

Fellowships

Academic Fellowships
Academic fellowships are typically awarded based on academic achievement and potential. These fellowships often include a stipend and tuition coverage, allowing students to focus on their studies without financial stress.

Research Fellowships
Research fellowships are designed for students conducting specific research projects. These fellowships provide funding for research-related expenses and sometimes include a stipend for living costs.

Assistantships

Teaching Assistantships (TAs)
Teaching assistantships offer students the opportunity to teach or assist in undergraduate courses. In return, they receive a stipend and tuition remission, making this an excellent way to gain experience and reduce educational costs.

Research Assistantships (RAs)
Research assistantships involve working on research projects under the supervision of faculty members. Similar to TAs, RAs receive a stipend and tuition remission, providing both financial support and valuable research experience.