Hi,

A lot of schools are telling me that financial aid is not free and i have to pay it back. I dont understand some of my friends didnt have to pay back.

a. when is fianncial aid free and when is it not?
b. i know loans you have to payback but when is financial aid free where you dont have to pay back?

Please let me know.

Thank you.

Judy

Hi Judy,

Financial aid encompasses a variety of funding, including grants, scholarships, work study, and student loans. The only funds that need to be repaid are student loans. If you file your FAFSA, any federal loans (including Stafford, Perkins, and PLUS loans) will require repayment. Anything else is "free".