Explore Types of Financial Aid

Different Types of Aid Offered at Spelman College

Financial aid can help make college more affordable. We encourage all students to apply for financial aid. You should file as early as you can to maximize your potential aid opportunities. By applying for financial aid, you are automatically considered for all aid types. It is important to remember that financial aid is not a one-time process. To continue receiving support, you must reapply for financial aid every year. This ensures your aid package reflects any changes in your academic standing or your family’s financial needs. | Visit the Financial Aid Overview

Grants

Grants are a form of financial aid that does not need to be paid back. Grants can come from federal and state governments, as well as from Spelman College. Grants are awarded to those who demonstrate exceptional financial need and apply for aid by the priority date, as funding is limited. Grants offered by Spelman are found below. | Learn More About Grants

Scholarships

Scholarships are known as "gift aid”. Scholarship awards are given on an annual basis and do not require repayment. Academic excellence, financial need, and the major of study are the primary criteria used for selecting recipients. Students awarded scholarships will typically be expected to maintain a cumulative GPA of 3.0. | Learn More About Scholarship Opportunities

Federal Work Study

Federal Work-Study (FWS) provides part-time jobs for undergraduate students with financial need, allowing them to earn money to help pay for their education expenses. The program encourages community service work and work related to the student’s field of study.

At Spelman, FWS is awarded to enrolled undergraduate students who demonstrate financial need and awards generally $1,500 per semester, which is earned during enrollment. Students may work on-campus, off-campus, or in a community service position. Students who participate in Federal Work Study can work up to 20 hours a week and funds are paid directly to the student. | Learn More About Federal Work Study

Federal Direct Student Loans

A student loan is money you borrow from the federal government or a private organization to pay for college expenses and repay later with interest. By educating yourself about the different types of college loans and making smart borrowing decisions, you can limit the amount of debt you have once you have graduated. | Explore Loan Options to Consider

Private Loans

Private student loans are credit-based funds offered by non-government lenders to assist with educational expenses. Unlike federal programs, these loans do not offer the same flexible repayment protections, making informed and strategic borrowing essential. We strongly encourage you to maximize your Federal Direct Loan eligibility before considering private alternatives, as federal loans typically provide lower interest rates and more favorable terms. To secure a private loan, students generally require a credit-worthy co-signer. It is vital to carefully evaluate all loan terms, including interest rates, fees, and repayment schedules, before committing. Additionally, please be aware that a completed "Self-Certification" form must be submitted to your lender before any funds can be disbursed. | Explore Private Loan Options to Consider