A grant is considered gift aid (i.e., money which does not need to be repaid). Grants are usually given to students based solely on a demonstration of financial need. For federal grants, students must submit a Free Application for Federal Student Aid (FAFSA) each academic year. For state grants, student must submit a New York State Tuition Assistance Program (TAP) application each year.
Scholarships are gift aid (i.e., money which does not need to be repaid). Scholarships are usually given to students based on some form of demonstrated merit (e.g., academic ability, community service involvement, particular talent). Scholarships often require that the student has financial need in addition to being meritorious. Scholarships typically require the student submitting additional applications to the organization(s) offering the scholarship.
Work Study is simply a part-time job, often on campus, for which a student earns a paycheck. It is considered financial aid because the government is paying a portion of the paycheck and the student must demonstrate need to qualify. Students must submit a FAFSA to determine their eligibility for work study.
Loans are aid funds that are borrowed and must be repaid at a future date. Repayment of federal loans will begin 6 months after a student graduates or ceases enrollment.
Sometimes a portion of a federal loan can be forgiven (i.e., not repaid) if a student goes into certain occupations, does full-time volunteer service after graduation, or under certain repayment plans.
More information: Federal loans | Private loans
The financial need of a student is determined by the information provided on the FAFSA. Financial need is simply defined as the difference between the student's cost of attendance and the EFC (expected family contribution—the family's ability to pay towards the costs of attending college, as defined by the federal government).
Since a student's EFC is the same regardless of which school they attend, a student's need varies based on the cost of the school.
The federal government offers grants, loans, and work-study. Eligibility for these aid programs is determined by the financial aid administrators at the college where a student chooses to attend and the student's FAFSA.
Eligibility for some aid programs will vary from school to school and is not transferable. Students must have a determination of eligibility done at each school that they are interested in attending.
New York State offers grants and scholarships. Eligibility is determined by the Higher Education Services Corporation (HESC), not the school a student attends. The school will verify that the student maintains academic eligibility and enrolls in the required number of credit hours.
Other states may also have grant programs and may allow their students to use the grants to attend colleges that are out of state.
Most colleges and universities have grant and scholarship funds that they give to their students and some have work programs outside of the federal work program. At Buffalo State, you will automatically be considered for merit scholarships through the admissions process. You can also apply for additional scholarships in the CAPS Scholarship Portal once you have committed to the university.
Private organizations may offer scholarships. The pool of applicants can vary depending on the size of the organization and interest in their funding. It's best to look for scholarships locally first as the competition is less, and then to investigate national scholarship programs.
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