Types of Financial Aid at Hostos Community College
Grants: Monies that do not have to be repaid and is usually based on financial need.
Federal Work Study: Provides employment opportunities for students with financial need to assist them with paying their educational expense.
Scholarship: Monies that do not have to be repaid; usually awarded on the basis of academic merit—sometimes based on need.
Student Loans: Borrowed monies that must be repaid within a specified period of time after a student graduates or leaves college for any reason.
The two most common financial aid application forms are:
· The Free Application for Federal Student Aid (FAFSA) which is used to determine an applicant's eligibility for Title IV Aid which includes: Federal Pell Grant, Federal Work Study, Federal Supplemental Educational Opportunity Grant, and Federal Student Loans.
· The New York State Student Aid Payment Application which is used to apply for New York State aid, such as the Tuition Assistance Program (TAP), as well as for payment of other NYS scholarships and grants.