What is a financial aid award?

A financial aid award is a package of funds provided to students to help cover the costs of their education, including tuition, fees, and living expenses. This award may consist of various types of financial aid, such as grants, scholarships, loans, and work-study opportunities. The amount and type of aid awarded are typically based on the student's financial need, academic performance, and other eligibility criteria. Understanding the details of a financial aid award is essential for students to manage their education costs effectively.