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Types of Aid

Financial aid is made up of a four types of funds

  • Grants: Grants are funds you receive based on the need, as determined by the .
  • Loans: A loan is money you borrow and must pay back with interest. Interest is a loan expense charged for the use of borrowed money. There are several different kinds of loans available to students. Be sure you understand your obligations before you borrow.
  • Work Study: Is a need based program, where students earn their financial aid by working for the university. There are lots of opportunities for students to gain experience working in a related field.
  • Scholarships: Scholarships are funds you receive usually based on academic merit (GPA or test scores). You do not have to repay these funds. These typically require another application in addition to the FAFSA.

The only way to qualify for most of these types of financial aid is to apply for financial aid by submitting the . If you are not eligible to submit the FAFSA, you can submit the .

Grants

Grants are funds you receive based need as determined by the FAFSA or ORSAA, and state residency. You do not have to repay these funds. Grant eligibility and/or amounts can change each year based on your income, and the number of credits you take each term (full-time or part-time).. To receive grants you must submit the or , no separate application is required.

Loans

A loan is money you borrow and must pay back with interest. There several loan options available to most students. In general, you should always take a Federal Direct Loan out before you borrow any private or alternative loans. If you do decide to borrow a student loan, make sure you completely understand your obligations as a borrower.

Work Study

Federal Work Study provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. You can get eligibility to receive Work Study funds by submitting the FAFSA, however, Federal Work Study funds are not guaranteed.

Student studying in Smith

Next Step: Apply for Financial Aid

To get aid, you must apply for financial aid by filling out the Free Application for Federal Student Aid (FAFSA). You should file a FAFSA even if you don’t think you’ll receive any financial aid. If you are not eligible to submit the FAFSA, you can submit the Oregon Student Aid Application (ORSAA).

Scholarships

PSU offers scholarships based on the information you provide in your application for admission and through the PSU Scholarship Application. To be awarded scholarships, you must apply for them using the PSU Scholarship Application. By submitting the FAFSA, you are not applying for these scholarships. We encourage you to submit the FAFSA and apply for scholarships.

Students are automatically considered for the following programs if they apply to PSU and submit the FAFSA by the appropriate deadlines:

Students are automatically considered for the following programs if they apply to PSU by the appropriate deadlines:

All students are encouraged to apply for scholarships through PSU’s Scholarship application and to explore external scholarships.

Have Questions?

Contact the Office of Student Financial Aid and Scholarships to get answers to your questions.

Connect with us via Chat, email, phone, or make an appointment (in-person or virtual).

Connect with the Financial Wellness Center

To get help with your student account, understanding your costs, or creating a budget to plan how you’ll pay, visit the .

Virtual Advisor