Financial Aid
Any funding (scholarships, grants, loans, work-study) that helps students pay for university. Can be need-based (family income) or merit-based (academic achievement).
Financial aid is the umbrella term for all forms of funding that help students afford university education. Aid packages may include grants and scholarships (gift aid that doesn't require repayment), loans (borrowed money with interest), and work-study (campus employment). In the US, the Free Application for Federal Student Aid (FAFSA) is the primary gateway to federal, state, and institutional aid. International students face different financial aid landscapes — some countries provide government-funded support, while others offer limited aid to non-citizens. Understanding the distinction between 'sticker price' and 'net price' (after aid) is crucial for comparing university costs.
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