|There are four basic types of financial aid available:
Scholarships are private monies that are made available to students from various local community groups, corporate donors, and the University. You do not have to repay scholarships. Most scholarships require a separate application.
Grants are available on the basis of financial need and do not have to be repaid. Sources of grant funds are available through Federal and State Governments. Grants are awarded to students who demonstrate the financial need and are prorated based on enrollment.
Federal Work-Study is a federally funded program that provides employment opportunities to students with the highest financial need. Placement is limited.
Loans are funds that you must repay. The Federal Direct Loan programs offer a secure, government-regulated and reasonably affordable way to invest in yourself and your goal of attaining higher education. Even though some loans are based on financial need, there are programs available to all federally eligible students regardless of income. Types of loans include Federal Perkins Loan, subsidized/unsubsidized Direct Loans, and PLUS Loans..
Private Education Loans, also known as Alternative Loans, are credit-based loans that can help bridge the gap between the actual cost of your education and the amount of your other financial aid funds. Private loans are offered by private lenders and should only be considered after exhausting all other sources of funding – including federal loans.
The TEACH Grant (Teacher Education Assistance for College and Higher Education) Program provides grants for students who intend to teach in high-need fields in low income schools. The program is available only to students fully admitted into an eligible teaching credential or graduate program at CSU Los Angeles.