Types of Aid

Types of Aid

Title IV financial aid includes Direct Loans (subsidized and unsubsidized loans), Perkins Loans, Federal Pell Grant, Supplemental Educational Opportunity Grant (SEOG), and Federal Work Study. These programs are authorized under the Higher Education Act.

The following is a list of the most common types of financial aid that each student is considered for upon admission to the university and/or completion of the Free Application for Federal Student Aid (FAFSA).


Grants are need-based funds that do not have to be repaid.


Scholarships are funds that do not have to be repaid.

Work Study

Work Study is a limited, need-based funding that students earn by working on campus. Students are paid an hourly wage for the number of hours they work during each pay period.


Loans are funds that you must repay. Most student loans are set up with deferred payments, meaning you do not have to begin repaying them until you have either graduated or you drop below half–time attendance or withdraw.

For a list of other financial aid programs offered at Ferris State University, please click here.