About Financial Aid
What Is Financial Aid?
Financial aid is any grant, scholarship, loan or paid employment
offered for the express purpose of helping a student meet educationally
related expenses. Such aid is usually provided by or through federal and
state agencies, foundations, corporations, and the colleges and
universities themselves. Grants and scholarships are regarded as "gift"
assistance and need not be repaid although they may carry certain
Loans are usually offered at low interest rates and can be repaid
over an extended period after the student leaves the institution. Where
aid is offered in the form of a job, the student is paid an hourly rate
for work actually performed.
The amounts and types of financial aid that students receive are
determined through federal, state and local guidelines, and are offered
to students in combinations or "packages" designed to fit applicants'
What is Financial Need?
Basically, it is the amount representing the difference between a
family's expected family contribution, as determined by the Free
Application for Federal Student Aid (FAFSA) and a student's cost of
attendance. Salisbury University expects that the student and his or her
parents will contribute to the fullest of their ability from income,
assets and other resources in meeting University expenses.
- Contributions from parents' income and assets
- Student's income and savings
- Veterans benefits
- Vocational Rehabilitation Grants etc.
- State scholarships or grants
- Private scholarships - ex. local businesses, foundations and