GUIDE TO FINANCIAL AID

What Is It?

There are four basic types of financial aid:

  1. Scholarships. A scholarship is an earned gift. You earn it by achieving excellence in academics or extracurricular activities. It never has to be repaid.
  2. Grants. A grant is a gift that is based on the financial need of your family. It never has to be repaid.
  3. Loans. A loan is not a gift. However, student loans provide money for schooling at the lowest possible interest rates, and under many loan programs, interest does not accumulate while the student is in school.
  4. Work. The employment programs provide part-time jobs that are funded by either the federal and state governments or by Dordt College.

There are three basic sources of financial aid:

  1. Federal and state governments
  2. Dordt College
  3. Outside sources