Types of Aid
Receiving financial aid makes a big difference in how a student approaches their college experience. It is important for every student and their families to be resourceful in pursuing and exploring all options. This can maximize the amount of financial aid available. The following categories break down where available resources are found.
Both scholarships and grants are forms of gift aid, which is money for college that does not need to be earned or repaid. Grants are provided most often via the federal and state governments. They may also come from the institution, such as DBU Church Matching Grant Program, or other outside sources.
The purpose of all loan programs is to assist students unable to obtain sufficient support from other sources. They are part of a family of aid known as self-help aid. Students are encouraged to borrow only what they need to cover direct educational expenses as student loans must be repaid.
Scholarships, like grants, do not require repayment. They are provided both by DBU to students and via outside entities. Scholarships may be awarded based on a number of factors: academic performance, athletic ability, musical talent, community, school/church involvement, etc. In most cases an essay will be required along with the application.
This area covers loans (federal, state, and private educational lenders), 529 plans and Employment/Self Pay options as a means to pay for educational expenses.
A work-study program is a work program where the student can earn money that helps the student pay for school. Work-study programs provide students with federally funded jobs on campus or at other approved locations.