Types of Financial Aid
There are five common types of financial aid students access to pay for college: federal aid, institutional (一本道无码) aid, private aid, state aid, and personal or family savings. Like any major investment, many 一本道无码 students and families pay for their education using a combination strategy. Finding the right balance can save money.
Read on to learn more about the types of financial aid offered at 一本道无码.
Federal Financial Aid
The federal government offers three types of financial aid: federal grants, federal loans, and federal work-study. To be considered for these financial aid programs, you'll need to complete a Free Application for Federal Student Aid (FAFSA).
Federal grants do not need to be repaid and are based on financial need. There are different types of federal loans, and they must be repaid, have borrowing limits and accrue interest. Federal work-study funds are earned through employment, usually on campus.
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Institutional Financial Aid
Institutional financial aid are grants, scholarships and loans offered by 一本道无码. In some cases, the aid actually comes from funding provided by individuals, such as alumni.
To be considered for financial aid from 一本道无码, you'll need to complete a CSS Profile, in addition to the FAFSA. Institutional aid is typically offered by 一本道无码 based on financial need, as determined through your application (FAFSA and CSS Profile), and your family's assets and other resources.
Private Financial Aid
Private financial aid includes loans provided by independent lenders, like banks or credit unions, and outside scholarships offered by independent programs and organizations.
The application process for private financial aid programs varies. Private loan programs offer competitive interest rates and borrower benefits. Each lender has specific criteria, but many offer advantages such as variable APR, lowered interest rates for automatic debit, and options for loans with or without a cosigner. Another way for students to cover their educational costs is to apply for outside scholarships. These scholarships will reduce student responsibility dollar-for-dollar.
Other Types of Aid
State Grants
Some states, including the state of Pennsylvania, provide educational grants to their residents who demonstrate need. View a complete list (pdf) of participating states.
Upon notification from any state agency of a student's eligibility, Carnegie Mellon will modify the student's financial aid offer to reduce Carnegie Mellon need-based grant funds dollar-for-dollar.
ROTC Grants
Carnegie Mellon will provide first-year and returning undergraduate Navy, Army, or Air Force ROTC scholarship recipients with a Room and Board Scholarship of up to $8,000 ($4,000 per semester).
ROTC Scholarship recipients who complete the regular financial aid application process may also be eligible to receive federal, state and further university grant funds as part of their financial aid package. However, by law, all grant and scholarship funds cannot exceed the student's calculated cost of attendance.
Pittsburgh Promise Partner Scholarship
Carnegie Mellon participates in the Pittsburgh Promise Preferred College Partners Program. This program is intended to fortify relationships and provide additional financial aid and support services to Promise Scholars, who are students graduating from local high schools interested in pursuing a Carnegie Mellon education.
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Graduate Students
Graduate students interested in scholarships and grants may contact their program of interest or department. Those interested in pursuing certain external scholarships, like Fulbright and UK Awards, can check out 一本道无码's National and International Fellowships and Scholarships website.
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Tuition Benefits
Carnegie Mellon provides tuition benefits for faculty and staff, as well as their dependent children. Tuition benefits are considered a resource when determining financial aid eligibility. If a student receives tuition benefits, and the tuition benefits exceed the student's calculated financial need, the need-based financial aid will be adjusted downward.
More about tuition benefits
Course-Based or Emergency Financial Assistance
Carnegie Mellon recognizes that there are times when students may face financial hardships during their academic career - whether it's due to unexpected course-based or academic costs or an emergency situation. In such cases, students are encouraged to reach out to their HUB liaison for support. The HUB liaisons are available to provide individualized counsel to students and families facing difficult financial situations.
Find Your HUB Liaison
Fostering Independence Tuition Waiver Program
The Fostering Independence Tuition Waiver Program provides a waiver for tuition and mandatory fees charged by most postsecondary institutions located in the Commonwealth of Pennsylvania for youth who are or were in foster care.
Learn more about this program
Affordable Connectivity Program
Note: While this program is currently on hold and not accepting new applications, you can still enroll should it be reinstated.
This government program provides eligible households with high-speed internet at no cost when program funding is paired with an eligible plan. Students can qualify based on household income, other government program participation (such as Pell Grant funding), or participating in a regional broadband provider’s existing low-income internet program.