Types of Aid

Types of Aid

The following is a list of the most common types of financial aid that each student is considered for upon admission to the university and/or completion of the Free Application for Federal Student Aid (FAFSA).

Please note that the State of Michigan requires a valid FAFSA for all State aid programs. 

Federal Aid Programs

• Federal Work Study*
• Pell Grant*
• Supplemental Educational Opportunity Grant (SEOG)*
• ^Teacher Education Assistance for College and Higher Education Grant (TEACH)
• Veterans Grants and Scholarships 

State of Michigan Aid Programs

• Michigan Achievement Scholarship
• Michigan Future Educator Fellowship
• Michigan Future Educator Stipend
• Michigan Indian Tuition Waiver
• Tuition Incentive Program

Ferris State University Aid Programs

• Ferris Merit Grant
• Ferris Pledge
• Ferris Faculty/Staff Tuition Waiver
• Ferris Work Study
• Woodbridge N. Ferris Scholarships
• Ferris Transfer Student Scholarships 
• Woodbridge N. Ferris Transfer Student Scholarships
• ScholarshipUniverse

Loan Options

Loans are funds that you must repay. Most student loans are set up with deferred payments, meaning you do not have to begin repaying them until you have either graduated or you drop below half–time attendance or withdraw.

• Direct Subsidized Loan*
• Direct Unsubsidized Loan*
• Graduate Plus Loans* (student borrowers in Graduate or Professional degree programs)
• Health Professions Loan
• Nursing Loan
• Parent PLUS Loan* (parent/step-parent borrowers of dependent students)
• Private Loans (student borrowers with credit-worthy cosigners, parent borrowers, or sponsor borrowers)

*Title IV financial aid includes Direct Loans (subsidized and unsubsidized loans), Federal Pell Grant, Supplemental Educational Opportunity Grant (SEOG), and Federal Work Study. These programs are authorized under the Higher Education Act.

^TEACH Grants do not need to be repaid provided the recipient meets the requirements outlined in the Agreement To Serve; if a borrower fails to meet the obligations outlined the grant is converted to a Direct Unsubsidized Loan.