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DEFINITIONS
- Student aid is defined as any resource that supplements what parents and students are expected to contribute to meet the costs of a college education.
- Penn State students receive four types of student aid: grants, scholarships, loans, and work study.
- Each type of student aid contains several individual programs.
GRANTS
- Grants are awarded based solely on financial need and have no requirement of repayment.
- They may come from the Federal government, the state or the University.
- To be considered for a grant, you must fill out the FAFSA.
SCHOLARSHIPS
Scholarships are awarded on academic achievement. For many University scholarships, financial need is an additional criterion of eligibility. There is no requirement of repayment.
- University Scholarships
These are awarded on the basis of superior high school or college academic performance. In most cases, documented financial need is also a requirement. - Military Scholarship Assistance (AROTC, AFROTC, NROTC)
One-, two- and three-year scholarships are available to both male and female students enrolled in one of the Reserve Officers Training Corps programs. These scholarships pay tuition, books and lab fees. They also pay from $250 to $400 per month (stipend), freshmen through senior, for up to 10 months of each school year.
- Non-University Scholarship
Various local service groups, organizations, schools and industries offer scholarships to college students. Students are encouraged to research these possibilities for additional assistance. Visit the main Student Aid website www.psu.edu/studentaid to begin your search OR the Library, Office of Student Aid or Admissions Office at Penn State Hazleton. These offices have the New Scholarships List binder compiled by Penn State Hazleton's Office of Student Aid.
LOANS
Loans are low interest awards that must be repaid after students terminate their studies at the University.
- General Stafford Loan
Stafford loans are available to all students. There are two types of Stafford Loans: subsidized and unsubsidized. Subsidized loans mean the Federal government is subsidizing (or paying for) your loan interest while you are in school and meeting the other requirements of the loan. Unsubsidized loans are loans that will not have the government pay for the interest while you are in school. Receiving a subsidized or unsubsidized loan depends on the financial need. For more information about Stafford loans, visit www.psu.edu/studentaid/aidprog/stafford.shtml
- PLUS Loan
This is a parent-only application for loan money. Students must be enrolled for at least half-time (6 or more credits) and must be a dependent student in order for parents to qualify for an application for this loan. For more information about the PLUS loan, go to www.psu.edu/studentaid/aidprog/plus.shtml
- Federal Perkins Loan
Perkins loans are available to the highest-need students. This is a low-interest loan available to undergraduate and graduate students who demonstrate financial need. For more information about the Perkins Loan, visit www.psu.edu/studentaid/aidprog/perkins.shtml
- Alternative Loans
Students who have unmet aid and do not qualify for a PLUS or Perkins loan can apply for an alternative loan. For more information about alternative loans, go to www.psu.edu/studentaid/aidprog/alternative.shtml
FEDERAL WORK-STUDY
Work study is awarded based upon the financial need of the student. Students can earn money towards their school expenses. Work study earnings are not applied directly to the semester bill; students receive a pay check.
For more information about work study and where on the FAFSA to indicate your interest, visit www.psu.edu/studentaid/aidprog/workstudy.shtml
