Student Affairs

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Scholarships
These funds are given to or earned by students and do not have to be repaid by the recipients to
assist students as they pursue their students. Scholarships are most often given to students for
a couple of reasons: academic merit/achievement or financial need (or a combination of both).
Merit Aid
This is financial aid given to students based on personal achievements. Most scholarships are
considered merit aid, generally awarded for success in school, the arts, athletics or other areas.
Grant
A grant is money given to students for their education. Often based on need, grants may come
from federal or state programs, or sometimes from private charitable organizations. It does not
have to be repaid.
Work-Study
The Federal Work-Study program provides jobs for undergraduate and graduate students who
have established financial need through the submission of FAFSA.
Student Loan
A loan is money you borrow and must pay back with interest. If you decide to take out a loan,
make sure you understand who is making the loan and the terms and conditions of the loan.
Student loans can come from the federal government, from private sources such as a bank or
financial institution, or from other organizations. Loans made by the federal government,
called federal student loans, usually have more benefits than loans from banks or other
private sources.
Subsidized Loan
(Also called the Stafford Loan or Direct Subsidized Loan)
This is a federal loan based on financial need and borrowed for the purpose of attending
college or an eligible training program. The federal government pays the loan’s interest while
the student is enrolled at least half time.
Unsubsidized Loan
(Also called the Stafford Loan or Direct Unsubsidized Loan)
This is a federal loan available to students, regardless of financial need, borrowed for the
purpose of attending college or an eligible training program. The student is responsible for
paying the interest on an Unsubsidized Loan during all periods.
Parent Loan for Undergraduate Students (PLUS)
(Also called the Direct PLUS Loan)
This is a federal loan available to parents of undergraduates with good credit history. The
maximum amount you can receive is the cost of attendance (determined by the school) minus
any other financial aid received.
Master Promissory Note (MPN)
This form promises repayment and is signed by a student or parent when taking out a student
loan. An MPN is a legal document that contains the Borrower’s Rights and Responsibilities
and Terms and Conditions for repayment.
Resources
PARENT TESTIMONIAL
“I have been so impressed by how helpful
and accommodating the different
administrative departments on campus
have been to me as a parent. Whether
it be answering a question concerning
my daughter’s tuition bill or addressing
concerns about her transitioning to
college, everyone I have dealt with has
gone out of their way to be friendly and
take time to help.”
Linda Davidson
Annandale, Va.