A glossary of financial aid terms and acronyms

Financial aid is any form of money which has been made available to help students pay for college. The majority of financial aid comes in the form of Federal and state grants and loans. It also comes from private sources, including La Sierra University itself. There are basically four kinds of financial aid programs: Scholarships, Grants, Federal Work Study, and Loans.

Scholarships
Institutional and privately donated funds offered by La Sierra University, awarded on the basis of a student's merit and academic achievement. These funds do not have to be repaid.

• External Scholarship Opportunities

Grants
Federal, state and institutional funds awarded on the basis of need. Like scholarships, they do not have to be repaid. These include Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), State Need Grants, and La Sierra University Grants.

Federal Work Study
Made possible by the Federal Work Study Programs (FWS) and La Sierra University, these enable students to work part time while going to school. Because of the large number of employment opportunities in the Riverside area, there are usually a sufficient number of jobs available off and on campus. On-campus jobs pay a minimum $6.75 per hour with annual raises. Off-campus jobs vary, paying $6.75 to $12 per hour, depending on the experience required.

• Student On-Campus Job Listings

Loans

• Perkins Loan
• Federal Plus Loan
• Federal Stafford Loan
• Commitment to Excellence loan-to-scholarship program

Financial Aid that must be repaid. Some are interest-free while the student is in school, with low interest rates during the repayment period. Payments may be deferred or forgiven based on certain conditions set by the Federal government. See your Student Financial Services Counselor for more details. Student loans must be repaid. In general, however, the student loan terms are far more favorable than loans available commercially.