Types of Aid
There are four basic types of financial aid available:
Scholarships
Scholarships are private monies that are made available to students from various local community groups, corporate donors, and the University. You do not have to repay scholarships. Each scholarship usually requires a separate application.
Grants
Grants are available on the basis of financial need and do not have to be repaid. Sources of grant funds are the Federal Government, California Student Aid Commission, and CSULB. Grants are awarded to students who demonstrate the greatest financial need.
Student Employment
Federal Work-Study is a federally funded program that provides employment opportunities to students with the highest financial need. Placement is limited.
Federal Loans
Loans are funds that you must repay. The Federal Loan programs offer a secure, government-regulated and reasonably affordable way to invest in yourself and your goal of a higher education. Even though some loans are based on financial need, there are programs available to all federally eligible students regardless of income. Types of loans include Federal Perkins Loan, Direct Stafford Loans, and PLUS Loans (for Graduate Students or Parents of Dependent Undergraduate Students).
Private Loans
Private Education Loans, also known as Alternative Loans, are credit-based loans that can help bridge the gap between the actual cost of your education and the amount of your other financial aid funds. Private loans are offered by private lenders and should only be considered after exhausting all other sources of funding – including federal loans.
New for 2009-10: TEACH Grant
The TEACH Grant (Teacher Education Assistance for College and Higher Education) Program provides grants for students who intend to teach in high-need fields in low income schools. The program is available only to students fully admitted into an eligible teaching credential program at CSU Long Beach.