Types of Aid
Loans let you borrow money for college at low interest rates and do not have to be paid back until 6 moths after graduation or if you are enrolled less than half-time. The government pays the interest on subsidized loans if you are enrolled at least half-time. You are responsible for the interest on an unsubsidized loan. You can start to re-pay the interest immediately or let it capitalize while in school and re-pay it with the loan.
Grants do not have to be repaid and are available to students who meet financial need requirements.