Park University: A Guide To Finances

Student Finance Module North Park University from www.northpark.edu

Park University: A Guide to Finances

Making Sense of Your Financial Aid Package

When you receive your financial aid package from Park University, it can be overwhelming. From scholarships and grants to loans and work-study, there’s a lot to navigate. It’s important to understand exactly what each financial aid option is and how it affects your college experience. Here’s a quick guide to help you make sense of your financial aid package.

Scholarships and Grants

The most desirable financial aid option is scholarships and grants. These are funds that do not need to be repaid and are typically awarded based on academic achievement or financial need. Scholarships may be offered directly by the university, or they may come from outside organizations. Grants are usually funded by the federal government and are awarded based on financial need. Be sure to search for scholarships and grants applicable to you.

Work-Study

Work-study is a form of financial aid that allows students to work part-time on campus to help pay for college expenses. This option is ideal for students who need to make money while in school to help cover their expenses. Work-study jobs are typically related to the student’s field of study and are paid at minimum wage. Be sure to check with your financial aid office to learn more about work-study opportunities.

Loans

Loans are another form of financial aid that students can use to help pay for college. These are funds that must be repaid after graduation, with interest. It is important to understand your loan options and the terms of repayment before taking out a loan. There are federal loans, which are funded by the government, and private loans, which are offered by banks and other lenders. Be sure to research all of your loan options and find the best one for you.

The Bottom Line

By understanding the different types of financial aid available, you can make better-informed decisions about how to cover your college expenses. From scholarships and grants to work-study and loans, there are a variety of options to explore. Be sure to talk to your financial aid advisor to learn more about the available options and find the right financial aid package for you.