Types of Financial Aid

Monroe Community College offers financial aid through federal, state, and private programs in the form of scholarships, grants, loans, and work-study funds. Both full-time and part-time students may qualify.

Scholarships

Scholarships are a form of financial aid that does not require repayment. They are typically funded by government agencies, private companies or organizations, community organizations, or educational institutions.

Types of Scholarships

Grants

Grants, which are based on need, also do not need to be repaid. Grants offered by the federal government include the following:

• Pell Grant
• Federal Supplemental Educational Opportunity Grant

New York State grant programs include:

• Tuition Assistance Program (TAP)
• Aid for Part-Time Study Program

Work-Study

Students can be awarded funds through the Federal Work-Study Program to earn through part-time employment on the college campus or through community service.

Federal Work-Study Program

Loans

Students and parents may borrow money through federal loan programs or lending institutions to assist with educational expenses. Unlike grants, scholarships, and employment programs, loans must be repaid and with interest.

• Federal Direct Student Loan
• Federal Parent Loan for Undergraduate Students (PLUS)
• Alternative Student Loans

Service-oriented Programs

Financial assistance provided through alternative educational aid programs-such as AmeriCorps, ROTC and the Montgomery GI Bill-typically requires a service commitment by the student.

Service-oriented Programs