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FINANCIAL AID EXPLANATIONS |
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GRANTS & SCHOLARSHIPS |
Free aid that does not have to be repaid. |
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LOANS (Perkins, Direct, and FFEL) |
Must
be repaid. |
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Stafford |
Subsidized Interest
accrues Immediately |
Unsubsidized Interest
does not accrue until 6 months after graduation or leaving school |
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FEDERAL
WORK STUDY (FWS) |
Provides
income though part-time work and does not have to be repaid |
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