Student aid is any resource that supplements what students, parents and others responsible for the student are expected to contribute to meet the costs of a college education. Penn State students receive four types of student aid: grants, scholarships, loans, and federal work-study.
Grants are awarded based solely on financial need, have no requirement of repayment, and can come from the federal government, the state, or Penn State. To find grants awarded by Pennsylvania, visit the Pennsylvania Higher Education Assistance Agency's website.
Scholarships are awarded based on academic achievement. For many University scholarships, financial need is an additional criterion of eligibility. There is no requirement of repayment.
Loans are low-interest awards that must be repaid after students leave Penn State. Loans include the Federal Direct Loan , the Federal Direct Parent PLUS Loan , and alternative educational loans .
Parent PLUS Loan
Private Alternative Loans
Federal work-study awards are based on a student's financial need and allow students to earn money towards their school expenses. Work-study earnings are not applied directly to a student's semester bill because work-study students receive a paycheck.