Types of Financial Aid
Financial aid comes in all shapes, sizes, and types. There's sure to be something to fit you and your personal situation! Learn more about:
Financial Aid Glossary
Scholarships
Scholarships are a kind of financial aid to help students pay for their education. There is no need to repay a scholarship. Scholarships are usually geared toward students with specific qualifications which might include academic merit or special talents and interests in a particular field; membership in an underrepresented groups; residence in a specific geographic areas; or demonstrated financial need.
Grants
Grants are awarded based on financial need. There is no need to repay a grant.
Loans
Educational loans must be repaid with interest. There are three categories of education loans: Student Loans including Stafford and Perkins loans; Parent Loans including the PLUS loan; and Private Loans, which are also called Alternative Student Loans. Students may also choose to lump certain qualifying loans together under a Consolidation Loan to help simplify the payment process. The maximum interest rate that lenders may charge for student loans is set by Federal law.
Work-Study
The CIA offers eligible students the opportunity to apply for Federal Work-Study position and work up to 20 hours a week, earning a paycheck each week. The Financial Aid Office determines if you are eligible. The dollar amount of the award, however, is only an estimate of your expected earnings and is not deducted from your bill by the Bursar's Office. CIA work study jobs are listed in the Student Bulletin. While preference for on-campus employment is given to Work-Study-approved students, jobs are based on availability and are not guaranteed. There are also opportunities to work off campus in community service positions.
