Scholarships, Grants and Loans

Scholarships are financial awards that do not need to be repaid. They are often merit-based (e.g., acknowledging academic achievement). Grant awards also do not need to be repaid. They can be merit- or need-based (based on FAFSA information) and can come from federal, state, college or private sources. Federal and private loans are a source of funding that must be repaid. It's possible to begin loan repayment or interest-only payments while still in school, or defer all payments until after graduation.

If you are a recipient of an institutional scholarship or a grant, your aid will not be transferable to another college or university, even if the second institution is part of a cooperative program. Scholarship or grant recipients in the 3+2 and pharmacy programs may apply those forms of aid only to their three years at Saint Michael's.

Scholarships, Grants and Loans

Scholarships are financial awards that do not need to be repaid. They are often merit-based (e.g., acknowledging academic achievement). Grant awards also do not need to be repaid. They can be merit- or need-based (based on FAFSA information) and can come from federal, state, college or private sources. Federal and private loans are a source of funding that must be repaid. It's possible to begin loan repayment or interest-only payments while still in school, or defer all payments until after graduation.

If you are a recipient of an institutional scholarship or a grant, your aid will not be transferable to another college or university, even if the second institution is part of a cooperative program. Scholarship or grant recipients in the 3+2 and pharmacy programs may apply those forms of aid only to their three years at Saint Michael's.