Scholarships

accumulate

(v.) to increase in number or amount; to pile up, collect, or gather

Stafford Loan

A federal loan that is either subsidized or unsubsidized

Perkins Loan

Another common federal student loan. These loans have a set 5% interest rate and a 10 year repayment period.

Bridge Scholarship

The Bridge to Success Scholarship is offered by some New Mexico Higher Education Institutions to first time Freshman who are in the process of qualifying for the Legislative Lottery Scholarship. The Bridge to Success Scholarship is offered only in fall and covers actual tuition charges and registration fee for the Lottery Qualifying Term. The Qualifying Term is the first term of attendance after earning a New Mexico diploma, or New Mexico GED or state approved credential.

Lottery Scholarship

The New Mexico Legislative Lottery Scholarship encourages New Mexico high school graduates and New Mexico General Education Diploma (GED) recipients to enroll full time and complete a 2 year degree within 4 semesters or a 4 year degree within 8 semesters. It provides financial support by paying a portion of the cost of tuition at any New Mexico public post-secondary institution. This scholarship is not awarded on the basis of financial need.

unsubsidized loan

a loan which has interest added to the balance even while a student is still enrolled in school. The government does not pay the interest, and the cost is the responsibility of the borrower.

scholarship

financial aid that is earned through academics or athletics

Pell Grant

money the government provides for students who need it to pay for college. Grants, unlike loans, do not have to be repaid. Eligible students receive a specified amount each year under this program.

subsidized Loan

the government pays the interest on the loan while you're in school