Self-Help Aid

Self-help aid is financial aid that must be either repaid or earned. Self-help aid can include loans and/or employment programs. Loans are borrowed funds that must be repaid. In many cases, these loans are low-interest. Payment often can be deferred as long as a student remains enrolled at least half-time. There are several types of loans available to help students fund their education.

Federal Stafford Loans

Federal Stafford Loans are borrowed in the student's name and can be either subsidized or unsubsidized. Principal payment is not requires while the student is enrolled at a minimum of half-time status. The student is given a six-month grace period after graduation or leaving school before repayment begins. Stafford Loans can be either subsidized or unsubsidized based on need. 

Federal PLUS Loans are funds that may be borrowed by credit-worthy parent(s) for an undergraduate student. If parents are deemed ineligible, student may request to borrow additional Stafford Loan funds. These funds are always unsubsidized.

Alternative Loans or non-federal loans are designed to supplement the Federal Stafford and Federal Stafford PLUS loan programs. A student must have established a satisfactory credit history to borrow through an alternative loan program or have a co-borrower. Repayment terms can vary between lenders.

Student Employment Programs

These programs give students the opportunity to earn money and gain experience through on-campus or off-campus community service jobs. While earnings from the student employment program are not subtracted from a student's tuition bill, they can be used to offset living or other incidental expenses.

(Back to Types of Aid)