Financial aid is usually grouped into two main categories:
GIFT AID
Gift aid is financial assistance that you do not have to repay. It includes need-based federal, state and institutional grants, all scholarships, veteran’s educational benefits and employer tuition reimbursement.
SELF-HELP AID
Self-help aid refers to educational loans or student employment. It includes both student and parent federal loans, alternative loans (from private lenders, banks or guarantee agencies), federal work-study and assistantships.
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