This guide was developed to help you discover both print and online sources of information for obtaining financial aid in the form of grants, loans, and scholarships here at Washtenaw Community College.
We have a great Financial Aid Office open Monday through Thursday from 8:00am to 7:00pm, Friday from 8:00am to 5:00pm, and Saturday from 9:00am to 1:00pm. (On Saturdays, Financial Aid staff are located only at Student Connection. )
Financial aid is fiscal assistance to meet the costs of higher education. Such assistance can come from federal, state, or private sources and may take the form of loans, grants, scholarships, and/or work-study. Most financial aid is need-based, but some (such as a scholarship) is merit-based.
Although the terms are sometimes used synonomoulsy, there are differences between scholarships and grants
Scholarships are based on achievement whether it is academic such as a high Grade Point average or high standardized test scores or an outstanding ability such as athletic or artistic. They are gifts that do not need to be repaid, but you must maintain a high academic achievement in order to continue to receive the scholarship.
Grants are based on need but academic performance is also important.
Grants and Scholarships come from a variety of local, state, and national sources
Loans must be paid back. Usually there is a six-month grace period following graduation before the loan repayment process begins.
Grants and scholarships do not require repayment. They can be awarded based on financial need, academic achievement, or other factors specific to the grant or scholarship.