Financial Aid 101
Need-based aid
Need-based financial aid is exactly what it sounds like — it's awarded based on your financial situation. Financial information provided on the FAFSA is used to determine one's need.
Some schools may collect additional information to determine eligibility for any need-based dollars available through the school.
Non-need-based aid
This type of financial aid may be awarded based on a student's ability, talent, or unique characteristics, such as academic achievements, athletic ability, musical talent, or ethnic heritage.
Types of Financial Aid
Grants
Grant money is typically based on you and your family's financial situation (need-based aid). Grants DON'T have to be repaid, as long as you meet the requirements.
Scholarships
Scholarship money is typically awarded based on merit or accomplishments (i.e. good grades, athletic ability, unique characteristics, etc.). As long as you meet the requirements, scholarship money DOESN'T have to be repaid.
Student Loans
Student loans MUST be repaid. There are various types. Student loans can come from the federal government, from private sources such as a bank or financial institution, or from other organizations. Be sure you completely understand what you are agreeing to before taking out a loan. Consider your future.
Work-Study
Work-study programs offer career-related work experience, allowing you to earn money while working throughout the school year. For information on GC's work study programs, contact Andrew Harvey at 301-387-3057 or andrew.harvey@xfmlsp.com.
Reputable sources of financial aid:
- Federal, state and local governments
- Colleges and universities
- Private scholarship organizations (remember: you should never PAY to apply for scholarships!)
- Civic organizations and churches
- Employers
For more information about federal aid programs, visit studentaid.gov
Video Resources
- Financial Aid Home
- Financial Aid 101
- Grants & Scholarships
- Student Loans
- Financial Aid Checklist
- Financial Aid Resources
- Required Docs
- Tuition & Fees
- Veteran's Affairs
Priority Deadline
MARCH1
You can apply for Financial Aid at any time. GC encourages you to submit your FAFSA when it first becomes available on October 1 of each year.
