Types of Aid Estimate Costs Explore Types of Aid Apply for Financial Aid Apply for Scholarships Other Ways to Cover Costs Accept Your Aid Financial aid is made up of a four types of fundsGrants: Grants are funds you receive based on the need, as determined by the FAFSA or ORSAA. 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 Free Application for Federal Student Aid (FAFSA). If you are not eligible to submit the FAFSA, you can submit the Oregon Student Aid Application (ORSAA). Financial Aid Glossary about this content 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 FAFSA or ORSAA, no separate application is required. Learn more about Grants about this content 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. Learn more about Loans about this content 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. Learn more about Work Study about this content 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). Apply for Financial Aid 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: Tuition-Free Degree Rose City Scholarship Students are automatically considered for the following programs if they apply to PSU by the appropriate deadlines: Western Undergraduate Exchange (WUE) Out-of-State Opportunity Scholarship (OOS) Washington Border Discount (WBD) All students are encouraged to apply for scholarships through PSU’s Scholarship application and to explore external scholarships. Learn more about Scholarships about this content 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). Contact Us about this content 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 Financial Wellness Center. Drop in to the FWC about this content