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What are the basic types of college financial aid?
The two basic types of financial aid are gift aid and self-help aid. Gift aid is better, of course, because you don’t have to repay it. Gift aid includes grants, which are usually based on your financial need, and scholarships, which are generally based on academic performance. If you’re working on a graduate degree, you might also seek fellowships, which based on your merit.
Self-help aid is money that you must earn or repay. They include loans and government work-study programs.Return to Questions
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