Financial Literacy Iron Cross

Questions?

We’re here to help.

Contact us anytime.

PennWest University 250 University Ave. California, PA 15419

PennWest California 250 University Avenue California, PA 15419 PennWest Clarion 840 Wood Street Clarion, PA 16214 PennWest Edinboro 219 Meadville Street Edinboro, PA 16444 PennWest.edu

Three legacies. Two centuries. One mission.

Your cheat sheet to making college more affordable

The Pennsylvania Western University Official Dictionary of Financial Aid

This is a guide to help you make sense of the world of financial aid, but it’s far from your only resource.

Paying for college is going to look different for every student, so we’re here for every student.

When it comes to paying for college there’s a lot to think about. And it all starts with really knowing the language.

Luckily, we’ve made this guide to help you make sense of financial aid.

Financial Aid – noun – [ fi-nan-shuhl ] [ eyd ] – any money that helps you pay for college often categorized by scholarships, grants, loans and student employment.

At PennWest there are numerous grants, scholarships and other opportunities for financial aid.

We’ll work with you to find the options you have – and the right choice for you.

Scholarship – noun – [ skol-er-ship ] – a payment made to support a student’s education based on academic or other achievement.

Scholarships typically do not need repaid. That’s right. If your student earns a scholarship, that’s instant savings off the cost of their college education.

Grant – noun – [ grant ] –

a sum of money given by an organization for specific use.

Grants also typically do not need to be repaid. They are typically based on academic merit or ability.

Grants can come from the government and other sources. The Federal Pell Grant, Federal SEOG Grant and Pennsylvania State Grant (PHEAA) are just a few of the grants available at PennWest.

Loan – noun – [ lohn ] –

a thing that is borrowed, especially a sum of money that is expected to

be paid back.

Yes, loans need to be repaid with interest. However, most loan programs don’t require repayment until after graduation or leaving school. And we can also talk to you about deferral programs and loan forgiveness opportunities. Loans available to students include Federal Direct Loans, Federal Direct Parent Loans for Undergraduate Students (PLUS) as well as Private/Alternative Loans.

studentaid.gov

Enough Words?

How About Some Numbers:

90

%

of our students receive financial aid

78

%

of our students receive some kind of need-based aid