Types of Aid

The Free Application for Federal Student Aid (FAFSA) is a form to receive financial support from the government to help pay for college. The FAFSA for 2024-2025 is now available.

A form of gift aid that does not have to be repaid. Generally, they are awarded based on a set of criteria such as academic merit, financial need, inclusive excellence, etc.

Grants come from sources including the federal government, the state government, the university or outside sources such as nonprofit organizations.

When you submit the FAFSA, you will be considered for federal aid, which often includes loans. These loans are borrowed funds that you must repay with interest.

Direct federal loans from the U.S. Department of Education (DoE) are the most common form of student loan. Undergraduate students (and their parents) and graduate and professional students can be eligible for subsidized or unsubsidized federal loans.

Once the first financial aid award notification is delivered, parents of undergraduate dependent students can apply for the Federal Direct Parent PLUS Loan to assist with education expenses.

Graduate and professional students have the option to apply for a direct federal PLUS Loan to borrow up to the total cost of attendance.

Alternative loans are borrowed from a private bank or other lending institution, not the federal government or the university.

Scholarships are gift aid, typically not repaid. They can be sponsored by the university itself, a specific department or degree program or from outside sources, depending on either merit or financial need.

University of Louisville students who are Kentucky residents may be eligible to receive state-funded financial aid managed by the Kentucky Higher Education Assistance Authority (KHEAA).

Undergraduate and graduate/professional students can earn money while studying by working part time on campus.