Scholarships and Financial Aid
It can be helpful to think of financial aid as an umbrella. And under that umbrella there many types of aid from many different sources. Each individual will their own financial aid journey filled various methods of paying for college. Planning is imperative. The earlier the better. However, things like grants, loans, and work study will be based on the results of filling out the FAFSA in senior year (opens in December). Scholarships can be searched for starting much earlier. However, the bulk of them are applied for starting after junior year ends.
Income-based, federal, state, and institutional
Examples:
Federal- Pell Grant
State- Washington College Grant
Institutional- A grant directly from UW
Don't have to repay
Income-based, federal and private.
Examples:
Federal- Direct Subsidized, Unsubsidized, Plus Loan
Private- Sallie Mae Student Loan
Have to repay
Merit and income-based, from public, private, and nonprofit sources
Examples:
Merit- athletic scholarships, academic achievement scholarships
Income based- any scholarship that awards based on financial need
Scholarships can come from an endless number of sources
Don't have to repay
Income-based, federal, state, and institutional
Provides part-time jobs for undergraduate and graduate students with financial need allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student’s course of study.
Receive pay for work