Financial Aid
Understanding Grants and Loans
Community. Culture. Legacy.
Build Yours Here. A world-class HBCU education is an investment, not a debt sentence. Our mission is to ensure financial barriers do not prevent you from joining the powerful legacy of institutions
Grants
Money You Don't Pay Back
Grants are forms of "gift aid" that typically come from the federal government, state governments, or the colleges themselves. They are usually need-based, meaning they are awarded based on your family's financial situation as determined by the FAFSA.
Key Federal & State Grants
Federal
Pell Grant
The most common form of federal undergraduate aid for students with demonstrated financial need. Requires the FAFSA.
Federal
Supplemental Educational Opportunity Grant (FESOG)
Awarded to students with exceptional financial need. Funding is limited, so filing the FAFSA early is critical!
Federal
Teacher Education Assistance for College and Higher Education (TEACH) Grant
Requires the student to commit to teaching in a high-need field in a low-income school after graduation. If the service obligation is not met, the grant converts to a loan.
State-Specific Grants
Grants specific to the state you live in.
Always check your state's higher education website (e.g., Texas Higher Education Coordinating Board, Virginia State Council) for programs.
Where Else to Find Grants
Private/Corporate
Foundations
Example Organizations:
Bill & Melinda Gates Foundation, Dell Scholars, Coca-Cola Scholars
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Actionable Steps for Students:
Search the organization's official website for their education funding arm. Many have specific programs for students pursuing STEM or specific degrees.
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Community & Local
Organizations
Example Organizations:
Your local Rotary Club, Lions Club, Religious Organizations, Credit Unions, Chamber of Commerce.
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Actionable Steps for Students:
Ask your high school counselor. Check your local library for a list of community scholarship and grant providers. These often have very low competition!
Affinity/Alumni Groups
Example Organizations:
Fraternities/Sororities (e.g., Divine Nine), Black Alumni Chapters (like the alumni association for Hampton or Grambling), NAACP.
Actionable Steps for Students:
If you or a family member is affiliated, check their national and local chapters. These funds are often restricted to members or their descendants.
Your Employer/Parent's Employer
Example Organizations:
Many large corporations (e.g., Walmart, Amazon, major banks) offer scholarships/grants to employees or their children.
Actionable Steps for Students:
Have a parent inquire with their HR department about "Employee Education Benefits" or "Dependent Scholarships."
Loans
Money You Must Pay Back
Loans are an investment in your future, but they must be managed strategically. We always advocate for maximizing Grants and Scholarships first, turning to loans only to bridge the gap.
Types of Loans
Federal
Direct Subsidized Loan
Based on financial need. The government pays the interest while you are in school and during grace periods. This is the best loan option.
Interest & Repayment: Interest is subsidized (paid by the gov.) until 6 months after you graduate.
Federal
Direct Unsubsidized Loan
Not based on financial need. Available to all students.
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Interest & Repayment: Interest begins accumulating immediately upon disbursement, even while you are in school.
Federal
Direct PLUS Loan
Federal loans for parents (Parent PLUS) or graduate/professional students. Requires a credit check.
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Interest & Repayment: Higher interest rate than subsidized/unsubsidized loans. Liability rests with the parent/graduate borrower.
Private Loans
​Private loans are offered by banks, credit unions, and other private lenders. They often have higher, variable interest rates and rigid repayment terms. We recommend students exhaust all other options before considering private loans.