Types of Financial Aid

Types of Financial Aid

Types of Financial Aid

Gateway Community College provides the following types of financial aid funds to its students:

  • Federal Grants   
    • Title IV federal student aid funds that do not have to be repaid (unless, for example, you withdraw from the college and owe a refund)
  • Scholarships/Grants    
    • Gift aid funds that do not have to be repaid (unless, for example, you withdraw from the college and owe a refund)
  • Federal Work-Study (FWS)   
    • A federal work program that provides funds for part-time employment to help needy students to finance education costs
  • Federal Direct Loans    
    • Title IV federal student loan program under which eligible students and parents borrow directly from the U.S. Department of Education; the loans must be repaid, with interest

Financial aid awards may be comprised of any of these categories, or a combination of the four. The exact form of the award will be determined only after careful evaluation of a student’s individual situation. Financial need, academic performance, and resources available to the student are all considered.

 

All financial aid awards are predicated upon available funds and subject to revision by the Financial Aid Office for changes in enrollment status, additional resources, scholarships, and/or lack of completion of necessary information to determine eligibility. Financial aid is disbursed regularly throughout the academic year.