Types of Aid Available

There are three basic categories of financial aid that may be awarded.

1. Grants and scholarships represent ”gift aid,” which does not need to be repaid. In general, a Caltech scholarship is awarded based on financial need. Caltech named and/or endowed scholarships are considered to be based on need, and some on need and merit. If you qualify for a state or federal grant, this grant will be included in your financial aid package.
2. Federal Work-Study or Caltech Work-Study represents student employment funds that have been allocated for you to earn during the academic year. Summer Caltech Work-Study represents funds that have been allocated for you to earn during the summer. While a work-study award is not a guarantee of employment, Caltech generally has more opportunities for student employment than it has students interested in working.
3. Low-interest educational loans: Students are generally offered Caltech/Institute loans. Students may be awarded Federal Direct Stafford Loans if they request them.