Indiana University Northwest
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Office of Financial Aid and Scholarships

Types of Financial Aid

Grants

A grant is a form of federal or state financial aid that does not need to be repaid. They are typically given to individuals who demonstrate financial need. Financial need is determined by filling out a Free Application for Federal Student Aid (FAFSA) 

Scholarships

A form of financial assistance that does not require repayment and may be awarded based on merit, financial need, or a combination of both merit and need. Scholarships can come from different sources and have various awarding criteria.

Student Loans

A type of aid that must be repaid. Students and parents both may borrow loans to help cover college costs. The type and amount of loan for which a student is eligible depends on the student's financial need, class level, and previous borrowing history.

College Work-Study

Federal Work-Study (FWS) enables eligible students to acquire work-study jobs, the wages for which are largely funded by the federal government. FWS recipients find their own jobs, either on campus or in the community.