Compare types of aid

With so many different financial aid options out there, you might be wondering which is the best for you. We’ll walk through each type of financial aid and explain their differences. We’ll even point you to federal and Texas opportunities.  

Some types of aid are based on financial need, and some on academic performance. Not all colleges and universities participate in all programs, but the more you know about financial aid, the better prepared you’ll be. 

When you submit a financial aid application, it opens the door to many types of financial aid. These funding sources can help pay for your education after high school, but you must apply to receive them. 

In Texas, all high school seniors are required to submit a financial aid application to meet graduation requirements. Every year, billions of financial aid dollars go unclaimed by students, simply because they aren’t applying for aid. Texas wants to help more students to get money to help pay for college or training after high school—so take advantage of the opportunity. 

Grants are considered “free money” that you don’t have to pay back. Grants are usually based on your financial need. You can get these from the government or from your college. 

Texas Higher Education Coordinating Board has a list of federal and state grants and scholarships. In Texas, some colleges offer grants that cover your full tuition and living expenses.  

Explore: Texas Tuition Guarantee Chart from Texas OnCourse 

Scholarships are a great way to get free money for your education that you don’t have to pay back. It’s important to start your scholarship search early—many opportunities begin before your senior year. While you're exploring options, consider the Texas First Program. If you’re eligible to graduate high school early through this program’s requirements, you're also eligible for a scholarship. Be sure to talk to your school counselor to learn if this program is right for you and how to apply. 

For more scholarships, start by talking to your counselor and exploring local opportunities in your community. 

Explore:  What are Scholarships and How Do They Work? from Appily 

Student loans are money you borrow to pay for your education or educational expenses. After graduating or ending your program of study, you’ll have to pay back the money you borrowed, plus any interest accrued.  

Loans from the federal government usually have much better interest rates and loan terms than what you can get from a private bank or credit union.  

Explore: More information on federal student loans from Federal Student Aid

Work-study programs help you earn money you work for while you’re in college. Work-study allows you to earn money for college through a part-time job.  

Work-study jobs are usually offered through the college and offer flexible work hours to accommodate student schedules. You’ll need to look for and apply to jobs through your college after you’ve been accepted.  

Explore: More information on work-study jobs from Federal Student Aid

In Texas, you may be eligible for an exemption that covers part or all of your tuition and fees for attending a college or university. Each tuition waiver will have its own guidelines on who can use them, what they cover, and where they’ll apply. 

The Texas Higher Education Coordinating Board has a list of exemptions available to Texas residents. You can explore these opportunities and find out if you qualify for them. Get in touch with any colleges or universities that you’re interested in to find out what the exemption might cover. 

The military also provides a couple of options for funding higher education. All service members are eligible for tuition assistance while on active duty or after service through the military GI Bill.  

If your parent is in the military or is a veteran, you may be eligible to use some or all of their education benefits.  

Explore: How to Use the GI Bill as a Dependent from National Military Family Association