Types of financial aid

Funding for an education at UALR is available from federal, state, university and private resources. To receive federal, state and many university-sponsored sources of funding, a student must complete the Free Application for Federal Student Aid (FAFSA). Other sources, local, private and institutional, are awarded on the basis of other criteria, particularly academic achievement.

There are several types of financial aid. Usually, a student is offered a combination of aid (known as a “package”) from these programs:

Scholarships

“Gift money” that is awarded on the basis of academic achievement (merit-based scholarships) or a combination of academic performance and financial need.

Grants

“Gift money” from federal, state and university funds that are awarded based on financial need.

Loans

Money one can borrow from federal loan programs and outside lenders.

Federal Work-Study

Money one can earn through Federal Work-Study by working on campus and earning the award at a rate of minimum wage as work is completed.

Veterans benefits

Benefits received by armed forces members, veterans, or dependents to assist with educational expenses