Types of Aid
Financial assistance is available to eligible MSU-Northern students in the form of grants, scholarships, work study and/or loans. Students may receive assistance from only one funding source, or aid may be offered in a package from multiple sources. This depends on student eligibility, level of need, packaging policy, and availability of funds.
Brief descriptions of the types of aid:
Grants are available on the basis of financial need and do not have to be repaid. Grants are awarded to students who demonstrate the greatest financial need.
Loans are funds that you must repay. Most loans are based on financial need and are federally funded. Types of loans include Federal Perkins Loan, Federal Direct Stafford Loans, and Federal Direct PLUS (Parent) Loans.
Work-Study is a federally funded program that provides employment opportunities to students with the highest financial need. Placement is limited.
Scholarships are private monies that are made available to students from various individuals, local community groups and corporate donors. Some scholarships are not based on financial need. You do not have to repay scholarships.