College of Prospective Students: Costs & Financial Aid: Types of Aid

Financial Aid That's Right For You

Financial aid generally falls into two categories: gifts or self-help. Gifts are scholarships and grants given to you, and you don't have to repay the funds. Self-help includes loans that you have to repay or work study that you have to earn.

Gift Aid

Scholarship money

Gift aid is any assistance made available for your educational costs that does not require that you repay the funding. Sources of gift aid include:

  • Pell Grants
  • State grants/scholarships
  • Grants and scholarships available from Indiana Tech
  • Grants and scholarships from outside sources

Self-Help

Self-help aid is assistance that requires you to either work or borrow funds for educational purposes. Both of these programs require that you complete the FAFSA form in order for us to determine your financial need.

Scholarships

For more information on scholarships, please visit our scholarships page.

Federal Direct Student Loans

Visit our Federal Direct Student Loans page to learn more.

Private Student Loans

Private loans are available for students in need of assistance to help bridge the gap between school costs and Federal funding. Please make sure you have exhausted your Federal funding first, as this is typically the best option for most students. While we certify private loans through any lender, we have compiled a list of the most accessed loans through a third party site called ELM Select. Lenders offer competitive rates and multiple repayment options, however, these private loans may also require a borrower to obtain a co-signer.

For more information about loans offered through ELM Select and participating lenders, please visit the ELM Select website.

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