DigiPen offers financial assistance to eligible students in the form of grants, scholarships, loans, and veterans benefits. Some financial aid — including loans — must be paid back with interest, while other types of financial aid — including grants and scholarships — do not need to be repaid. Savings, investments, and gifts of money from relatives are not financial aid. The different types of financial aid are outlined below.
Loans can be provided by either federal or private sources. Federal loans come from the Direct Loan Program, available to undergraduate students and graduate students. Private loans are offered by private lenders and should be considered only after exhausting all other sources of funding, including federal loans and grants.
Grants are a form of gift aid with funding from state or federal sources. Undergraduate students can be considered for grants by completing the Free Application for Federal Student Aid (FAFSA). Grants do not need to be repaid.
Scholarships are monetary awards offered by private organizations or donors that are given to students to help pay for their education. Students must usually meet a set of criteria in order to be eligible for scholarships. Both undergraduate students and graduate students may be eligible for scholarships.