Types of Aid
Financial Aid is available to students in the following categories.
Grants - 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 financial need and are prorated based on enrollment.
Federal Work-Study - A federally funded program that provides employment opportunities to students with the highest financial need. Placement is limited.
Scholarships- Forms of free money 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.
Federal Direct Loans - 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 Subsidized/Unsubsidized Direct Loans, Graduate PLUS Loans, and Parent PLUS Loans.
Private 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.
Dream Loan - The California Dream Loan is a subsidized loan program only available to California Dream Act Application Students. This loan is borrowed money that must be repaid.
Nursing Loan - The Nursing Student Loan is a low interest loan program only available to nursing students. The loan is borrowed money that must be repaid with interest. The loan is deferrable and does not accrue any interest while a student is enrolled at least half-time (6 units). The loan interest rate for the Nursing Student Loan 5%.
TEACH Grants - 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 Cal State L.A.