Types of Financial Aid
Financial aid consists of funds from federal, state, university and private sources.
Aid can come in the form of grants, scholarships, loans and part-time employment. Basic responsibility for financing higher education rests with students and their families; financial aid is offered to supplement the family's maximum financial effort. With few exceptions, financial aid is offered only to students who demonstrate financial need. The amount of need-based aid in no instance exceeds the amount of financial need.
Scholarships
University scholarships are awarded to new and continuing students based on their academic profile and financial need. Since most Binghamton scholarships are need-based, students must file the federal FAFSA to be considered. Click here for more information.
Grants
Grants are funds from the federal and state government that do not need to be repaid. Students apply for federal grants by submitting the Free Application for Federal Financial Aid (FAFSA). If a student is eligible, grants are usually just a portion of the financial aid package offered to the student.To learn more on various grant programs:
Federal Pell Grants
Academic Competitiveness Grant
National SMART Grant
Federal Supplemental Educational Opportunity Grant (FSEOG)
Tuition Assistance Program (TAP)
Loans
Students and parents have a number of loan options, which may be offered to you as part of your financial aid package.
Federal Direct Loans
Federal Parent (PLUS) Loans
Federal Perkins Loans
Federal Nursing Loans
Federal Direct Graduate PLUS Loan
Alternative Loans
