Answers to Your Questions About Financial Aid

Posted: June 12, 2016 | Author: Southern Utah University | Read Time: 1 minutes

Students walking across campus in the rainHere are the quick answers to all your financial aid questions. For more information on each topic, click on the question.

What is financial aid?
Financial Aid is money awarded to students to help them pay for education. Aid is given as loans, grants, scholarships, or work-study. Some forms of financial aid are required to be repaid after graduation.

What is FAFSA?
The Free Application for Federal Student Aid (FAFSA) is a free financial aid application used to determine eligibility for federal financial aid.

What is expected family contribution?
Expected Family Contribution (EFC) is an index used by the financial aid office at Southern Utah University to determine how much aid you are eligible for.

What is financial need?
Financial Need is the difference between the cost of attendance and the student’s expected family contribution.

What is need-based aid?
Need-based aid is determined solely on a student's financial need.

What is merit-based aid?
Merit-based aid is based on a variety of talents and interests: academic, artistic, athletic, etc.

What is a scholarship?
A scholarship is a form of financial aid that does not have to be repaid or earned through employment.

What is a grant?
A grant is a form of financial aid that does not have to be repaid or earned by working. Grants are usually based on financial need; however, academic merit may also be considered.

What is a loan?
A loan is money you borrow and must pay back with interest.

What is Work Study?
Work Study is money that you can earn throughout the semester by being employed on campus with an approved employer.

Find this article in Spanish here: Preguntas Sobre Ayuda Financiera.

For more information, contact the Financial Aid office at SUU.
SUU Office of Financial Aid & Scholarships
351 W University Blvd
Sharwan Smith Center, Suite 167
Cedar City, UT 84720
(435) 586-7735 (p)
(435) 586-7736 (f)

This article was published more than 5 years ago and might contain outdated information or broken links. As a result, its accuracy cannot be guaranteed.

Tags: Blog Financial Aid High School Parents

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