Scholarships do not have to be repaid. They are reserved for students with special qualifications, such as academic talent, interest in particular fields of study, or financial need.
Grants are a form of financial aid that does not have to be repaid. All federal grants are awarded to students with financial need.
Loans must be repaid, with interest. There are three major categories: student loans, parent loans, and private education loans. Federal loan programs offer lower interest rates and more flexible repayment plans than most consumer loans.
Work Study Program is need-based and provides employment opportunities for eligible students. The FWS award depends on available funding and need.