Understanding Financial Aid

Students standing and talking

Types of Financial Aid


Fellowships are prestigious and competitive external awards which provide a small number of students with a stipend and tuition benefits. The complete terms of each fellowship must be reported annually by the recipient or faculty advisor to the Student Financial Aid and Scholarships office. Recipients of fellowships are frequently not eligible for any other financial aid or scholarship.


Grants are largely awarded by governments aiming to increase the accessibility of higher education.


Loans are borrowed funds from the government or a private company which must be repaid.


Scholarships are monetary awards given by the university, its colleges and its and donors based on merit and/or financial need.

Work Study

Work study is a program giving students access to jobs on campus.