What is Financial Aid?
Financial aid helps students and their families pay for college. This financial assistance covers educational expenses including tuition and fees, room and board, books and supplies, and transportation. There are several types of financial aid, including grants and scholarships, work study and loans. Financial aid awards may include a combination of the various types of aid.
The Financial Aid and Scholarship Office and NDSU One stop has professional staff members to administer the aid programs and advise students and their families regarding the financial aid and scholarship opportunities available to them.
The four basic sources of financial aid are:
Federal Financial Aid
the largest source of financial aid that offers several different aid programs
State
North Dakota has various different aid programs based on financial need, academic merit, talents, or career choices
Institutional
colleges and universities offer numerous scholarships and grants to students
Private Sources
come from many different civic organizations, associations, clubs, foundations, churches, businesses, banks and credit unions
The four types of financial aid are:
Grants
awarded to students that show they have financial need, grants typically do not require repayment
Loans
a source of aid that must be repaid, usually with interest, after you graduate or stop going to school
Scholarships
awarded to students based on special talents, skills or high academic achievement
NOTE: Some loan, employment and scholarship programs have financial need as a requirement.