Types of Financial Aid
There are several different types of financial aid that will help pay for your education. Your financial aid package can include scholarships, grants, loans and work-study. You can accept all or part of what is offered to you.
Grants are generally based upon a student’s financial need (need-based) or upon a student’s skill or ability (merit-based). Learn more about Federal Pell Grants, Federal Supplemental Education Opportunity Grant, SVSU Opportunity Grant and the TEACH Grant. Grants do not have to be re-paid.
Student loans assist with any unmet educational cost and is money borrowed that must be re-paid with interest. Student loans can come from the federal government or from private sources such as a bank or financial institution. Loans made by the federal government usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources.
Work-Study provides part-time, on-campus employment for students with financial need, allowing them to earn money to help pay for their education expenses. Other student employment opportunities exist that are not based upon financial need, providing students access to part-time jobs on campus while attending SVSU.
Michigan Competitive Scholarship is available to undergraduate students pursuing their first degree. Students must demonstrate both financial need and merit. For priority consideration, completion of the FAFSA by March 1 is necessary and other supplemental applications may also be required. Visit the link above to learn more.
The Campus Financial Services Center located on the first floor of Wickes Hall is your one-stop location for student/parent inquiries regarding financial matters at SVSU. Use the provided contact information found on this page for phone or email inquiries.