Financial Literacy: Financial Aid

What are the types of financial aid?

• Grants: typically need-based and do not need to be repaid.
  • Pell Grants
  • Federal Supplemental Educational Opportunity Grant
• Scholarships: can be merit-based, need-based, or awarded for specific achievements or characteristics. Scholarships do not require repayment. 
  • Career One Stop
  • Scholarship Finder
  • Scholarship Search
• Loans: Both federal and private loans are available. These must be repaid with interest. Federal loans often have lower interest rates and more flexible payment options. 
  • Direct Subsidizes and Direct Unsubsidized Loans
• Work-Study Programs: allows students to work part-time jobs to earn money to help pay for educational expenses. 
• Tax Credits and Deductions: there are several tax benefits available to students and their families. These can help offset the cost of education.
  • American Opportunity Tax Credit
  • Lifetime Learning Credit
• Military Aid: For students with military affiliations or family members in the military. 
  • GI BIll

Each type of financial aid has its own eligibility criteria and application process, so it's essential for students to research and understand their options. 

For information regarding financial aid at Prairie View A&M University. Visit the Financial Aid Office