Financial Aid

Financial Aid

Financial aid can be defined as any resource that supplements what parents and students are expected to contribute to meet the costs of a college education.

Penn State students receive four types of student aid: Grants, Scholarships, Loans and Work Study.

Deadline to apply for financial aid

The Free Application for Federal Student Aid (FAFSA) becomes available on October 1 and will use income information from two years prior to the academic year.

This change is commonly referred to as “Prior-Prior Year” (PPY). This will allow you and your families to file your FAFSA earlier with more accurate information and will eliminate the need to estimate tax data.

Penn State recommends that students file their FAFSAs as early as possible, starting October 1 and no later than April 15. Keep in mind that many student aid sources, especially University funds, have limited funding and are awarded to eligible students on a first come, first served basis. Waiting to file the FAFSA may mean you will not be awarded funding for which you would otherwise qualify because the available funds have run out.


Grants are awarded based solely on financial need and have no requirement of repayment. They may come from the Federal government, the state or the University. More information on grants.


Scholarships are awarded on academic achievement. For many University scholarships, financial need is an additional criterion of eligibility. There is no requirement of repayment. More information on scholarships.


Loans are low interest awards that must be repaid after students terminate their studies at the University. To learn more about the various types of loans, visit our Student Aid site for more information about loans.

Federal Work-Study

Work-study is awarded based upon the financial need of the student. Students can earn money towards their school expenses. Work study earnings are not applied directly to your semester bill. Students receive a paycheck. More information on work-study. Find work-study jobs on campus.