Financial Aid Types and Sources

Education is an investment in your future, and we know that the investment can get expensive. But here’s the good news: Every year, the U.S. Department of Education’s Federal Student Aid office provides billions of dollars in assistance to millions of students and their families. This aid can be used to pay for tuition and fees, books, supplies, and more. Financial Aid falls into one of the four types:

  Type of Aid Source Basis of Award Repayment Required?
1 Grants Federal
State
Financial Need No
2 Scholarships State
College
Private
Financial Need
Academic Merit
No
3 Federal Work Study Federal Financial Need No
4 Loans Federal
State
Private
Financial Need
Non-Financial Need
Yes

Additional information about financial aid sources may be found below.

Financial Need

The majority of financial aid is based on demonstrating a financial need through the completion of the FAFSA. Financial need is determined by subtracting the student's Expected Family Contribution (EFC) from the Cost of Attendance (COA).

The Cost of Attendance is more than direct costs of tuition, fees and books. Indirect college expenses such as living expenses, transportation and personal expenditures are considered.

COA-EFC=Financial Need

Cost of Attendance Example #1
Living with parent
In-county Resident*
Full-time student (12 or more hours)
Attending Fall and Spring semesters
Tuition and Fees $2,376
Books and Supplies $1,080
Transportation $946
Room and Board $2,700
Personal and Other $1,350
TOTAL $8,452

*The out of county surcharge for two semesters is $1,128. The out of state surcharge for two semesters is $4,392.

Note: The college reserves the right to change without notice statements concerning rules, policies, fees, curricula, courses, or other matters.

Laboratory fees are determined for individual classes. Any additional costs for programs can be found in the Online Course Schedule Planner for each individual class that requires payment of additional fees.

The Online Course Schedule Planner can be found at www.sinclair.edu/schedule


“Types of Federal Student Aid” Video

Check out this video to learn about grants, loans, and work-study jobs and how they can help fund your education.

Types of Federal Student Aid