Types of Financial Aid
TYPES OF FINANCIAL AID
Pace University offers students as much financial assistance as possible. Financial Aid can come in many forms, including scholarships, grants, work study, and student loans. Financial Aid award packages offered by Pace University typically consist of a combination of awards from these types of aid programs.
Scholarships and grants are considered gift aid. Always accept scholarships and grants offered to you first. These types of aid are the best kinds because they do not need to be paid back. Scholarships and grants are offered by Pace University, the federal government, New York State and private organizations. University-sponsored scholarships and grants are awarded to students on the basis of academic merit, service to the community, talent, special activities, and financial need.
Work study is a federally subsidized work program for students who meet the general eligibility criteria and exhibit financial need on their FAFSA. This type of financial aid is a work program where funds can be earned if a student obtains an authorized job either on or off-campus.
Student loans offered by the federal government allow students to borrow additional funds to finance their education. These are some of the best loans available to help students pay for school because of their lower interest rates and flexible repayment terms.
If you still need additional funding to help pay for your education, there are additional options you can take advantage of such as Pace University's tuition payment plans or a private student loan. Keep in mind that private loans should be a last resort once you have exhausted your federal, institutional or state aid resources.
GENERAL RULES COVERING ALL FINANCIAL AID
- Any combination of tuition-specific Pace-funded scholarships, grants or awards and New York State or other tuition-specific funding cannot exceed your actual tuition charges.
- All financial aid combined may not exceed your Cost of Attendance.
- You must be matriculated in a degree program at Pace University in order to receive any financial aid other than Alternative Loans. (Note that some Certificate program students also qualify). Matriculated means that you are admitted to and enrolled in a degree or certificate program.
- Generally, students must be enrolled at least half-time (6 credits per semester) to qualify for aid. Exceptions are federal Pell Grants and Alternative Loans.
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