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Financial Aid

Financial Aid is funding provided to a student, or family, to help pay for the cost of college or post secondary training.

Types of Financial Aid

There are four common types of financial aid:

  • Grants: Grants are a form of financial aid that does not have to be repaid. This will often times be referred to as "Gift Aid"
    Learn about Federal Grants
    Learn about Missouri Grants

  • Scholarship: Scholarships are a form of gift aid provided by an organization to help pay for educational expenses. This type of aid may be based on merit or financial need. 
    Learn about Scholarships
    Learn about Missouri Scholarships
  • Work Study: This is a federal form of financial aid that allows the student to earn money to pay for school by working for the college they are attending.
    Learn about Work Study
  • Loans: Loans are money that is borrowed to help pay for school. This money must be paid back with interest. Federal student loans are applied for through the Federal Application for Student Financial Aid (FAFSA) and offered as part of a students school financial aid offer. Students and families can also explore private student loans
    Learn about Loans

Sources of Financial Aid

Student Financial Aid can come from a variety of sources. Some of these include:

  • Federal Government: The U.S. Department of Higher Education provides the largest source of financial aid through its federal student aid programs. 

  • State Aid: State aid is provided by the state government of the students home state. The Missouri Department of Higher Education administers several Missouri grant and scholarship programs in addition to the several other Missouri student aid programs sponsored by the state of Missouri.
  • Colleges & Universities: Institutional aid is awarded by colleges and universities. For more information about institutional financial aid programs, check with each individual school website.
  • Private Organizations:  Research local and national businesses, community groups and religious and civic organizations for grants and scholarships they may have available.
  • Employers: Check with both student and parent employers scholarships and educational benefits they may offer.

Applying for Financial Aid

The first step for applying for most forms of financial aid will begin with completing the Free Application for Federal Student Aid (FAFSA). This is how Federal and State and some forms of College & University aid will first be reviewed.  Additional forms or applications may be needed depending on the type of aid or the funding source.

Financial Aid Calculator

Students and families can utilize cost calculators to help plan more effectively when considering college cost. 

Federal Student Aid Estimator:
The Federal Student Aid Estimator provides an estimate of how much federal student aid the student may be eligible to receive. These estimates are based on the Student Aid Index (SAI), an index number used to determine federal student aid eligibility.

Net Price Calculator
Net Price is the amount that a student pays to attend an institution in a single academic year AFTER subtracting scholarships and grants the student receives. Net price calculators are available on a college’s or university’s website and allow prospective students to enter information about themselves to find out what students like them paid to attend the institution in the previous year, after taking grants and scholarship aid into account. This tool makes it easy to find the net price calculator on each individual college's website.