Paying for College

Types of Financial Aid

Financial aid can include grants, scholarships, student employment, and loans. Start with funding that does not need to be repaid, then borrow only what you need.

Gift aid

Grants

Need-based funding that generally does not need to be repaid when all eligibility requirements are met.

Review grants
Gift aid

Scholarships

Funding awarded using criteria such as achievement, need, program, service, or donor priorities.

Review scholarships
Earned aid

Student employment

Part-time employment that allows eligible students to earn wages while attending college.

Review student employment
Borrowed aid

Student loans

Money borrowed for education that must be repaid, usually with interest.

Review loans

Gift aid

Grants

Grants are generally awarded to undergraduate students based on financial need and other eligibility requirements.

Federal grant

Federal Pell Grant

Eligible undergraduate students who have not earned a bachelor’s degree may qualify for a Federal Pell Grant.

The amount depends on federal eligibility calculations, enrollment in eligible courses, annual limits, and lifetime Pell Grant usage.

Learn about Federal Pell Grants
Federal grant

Federal Supplemental Educational Opportunity Grant

FSEOG funds are awarded by YC to eligible students with exceptional financial need.

Funding is limited. Awards depend on eligibility, enrollment, available funds, and the order in which complete files are reviewed.

Learn about FSEOG
Arizona grant

Arizona Leveraging Educational Assistance Partnership

AzLEAP may be awarded by YC to eligible Arizona students with high financial need.

Funding is limited and depends on state availability, eligibility, enrollment, and completion of the financial-aid process.

Federal Pell Grant recipients are subject to a lifetime eligibility limit. Review your federal aid history through StudentAid.gov .

Borrowed aid

Federal student loans

Loans can help cover remaining educational costs, but every borrowed dollar must be repaid. Review your expected monthly payment before accepting a loan.

Direct Subsidized Loan

Need-based

Available to eligible undergraduate students with demonstrated financial need.

  • Requires at least half-time eligible enrollment.
  • Annual and lifetime borrowing limits apply.
  • The federal government generally pays interest during certain eligible periods.

Direct Unsubsidized Loan

Not need-based

Available to eligible students regardless of demonstrated financial need.

  • Requires at least half-time eligible enrollment.
  • Annual and lifetime borrowing limits apply.
  • Interest generally begins accruing after the loan is disbursed.

Direct PLUS Loan

Parent borrowing

Eligible parents of dependent undergraduate students may apply for a Direct PLUS Loan.

  • The student must meet eligible enrollment requirements.
  • A federal credit review is required.
  • Interest and loan fees apply.

Current interest rates and loan fees

Federal loan rates and fees can change by award year and loan type. Use the official federal source for current information.

View current rates and fees

Estimate repayment before borrowing

Use the federal Loan Simulator to compare repayment plans and estimate possible monthly payments.

Open the Loan Simulator

Borrower requirements

Complete these steps before your loan can be released

Accept the loan

Review the offered amount and accept only what you need through your YC financial-aid account.

Complete entrance counseling

Required borrowers complete federal counseling about loan terms, responsible borrowing, and repayment.

Complete entrance counseling

Sign the Master Promissory Note

The MPN is the legal agreement describing the terms and conditions of the federal loan.

Complete the MPN

Exit counseling is also required

Federal student-loan borrowers generally complete exit counseling when they graduate, leave school, or drop below half-time enrollment. Complete exit counseling .

Review your federal loan balance

Sign in to StudentAid.gov to review loan amounts, outstanding balances, disbursements, and loan-servicer information.

Sign in to StudentAid.gov

Short-term or late-start enrollment

When a student attends only shortened or late-start classes, the Cost of Attendance and loan eligibility may be adjusted according to the period of enrollment.

Responsible lending practices

Yavapai College follows established student-loan ethical standards and codes of conduct.

Arizona Student Loan Code of Conduct  |  NASFAA Ethical Principles and Code of Conduct

Learn more about federal student loans

Gift aid

Scholarships

Scholarships may be awarded using academic achievement, financial need, career goals, program of study, service, background, or donor-defined criteria.

Scholarships generally do not need to be repaid when all award conditions are met. Requirements and deadlines vary by scholarship.

Explore scholarship resources

Earned aid

Student employment and Federal Work-Study

Eligible students may apply for part-time campus employment, including positions supported through Federal Work-Study.

Work-study eligibility is determined through the financial-aid process, but an award does not guarantee a job. Students must apply for available positions and earn wages through hours worked.

Visit Student Employment

How student employment differs from grants

  • Students apply for available jobs.
  • Wages are earned through hours worked.
  • Earnings are generally paid through payroll rather than credited automatically to the student account.
  • Work schedules must fit around classes.