There are several type of student aid available to you. They can be boiled down into two main categories: student aid you have to repay and student aid you don’t have to repay.
Student aid you don’t have to repay should be your first choice when you pay for college. This type of aid can be scholarships, grants and work study.
Student aid you have to repay is usually student loans. The two categories of student loans are federal student loans and private student loans.