Financial Assistance: Grants, Loans, Scholarships
The major categories of financial assistance programs include grants, scholarships, and loans. Loans from federal or private lenders must be repaid; the interest rate, however, is usually low and the repayment period is extended. Grants and Scholarships are free money for school and are often based on financial need and/or merit. For more information visit the Worldwide Financial Aid Website.
A complete description of financial aid assistance and optional financing programs are available to students and their parents. Types of financial assistance are detailed online at https://worldwide.erau.edu/admissions/financial-aid/ this includes information about eligibility criteria, application procedures, deadline dates and much more.
Federal and State Grants
Federal and State Grants – These grants are available to U.S. citizens or permanent residents who are enrolled at least half-time in a degree program. To remain eligible, you must make satisfactory academic progress and not be in default or owe a return repayment on a grant or loan. Visit the Grants page to see if you qualify.
State Programs – Each state offers its own range of scholarship and grant programs that you may qualify for through residency and meeting the outlined criteria. Visit our State Scholarships and Grants page https://worldwide.erau.edu/admissions/financial-aid/scholarships/state-scholarships-grants/ or Check with your state to see what programs are available to you.
Embry-Riddle Worldwide recognizes the investment students and their families make when choosing a private college so providing financial assistance to aid students who have demonstrated academic achievement is important. By offering scholarship opportunities ERAU Worldwide would like to alleviate some of that burden. Students must be admitted into a degree-seeking program of study to receive any Worldwide scholarship opportunities. Scholarship awards are typically based on merit or a combination of merit and need, such as academic excellence, talent, affiliation with various groups, or career aspirations.
Embry-Riddle Donor Scholarships are funds that are generously donated to help students pay for their education. If you are selected for a scholarship it will be paid in the Fall and Spring terms of the following academic year. Completing the application does not guarantee that you will receive a scholarship and you must reapply for these awards each year. The scholarship award amounts vary, ranging from $500 to $5,000, and scholarship criteria also vary. Some scholarships are specific whereas others are more general although most scholarships require a FAFSA application. Completing a FAFSA application does not require you to use Federal aid. Worldwide Students can apply during the months of January and May each year. The application will open in January and will remain open through 5 p.m. EST on May 31st. Recipients are chosen by the Worldwide Scholarship Committee during the months of June and July and notifications will be sent via ERAU email by the end of July for the academic year.
Worldwide Scholarship Opportunities - Embry-Riddle Worldwide recognizes the investment students and their families make when choosing a private college, so providing financial assistance to aid students who have demonstrated academic achievement is important. By offering scholarship opportunities, Embry-Riddle Worldwide would like to alleviate some of that burden. Students must be admitted into a degree-seeking program of study to receive any Worldwide scholarship opportunities.
External and Private Scholarships – Like grants, external and private scholarships do not have to be paid back. Visit our Scholarships page to learn more about the available types and whether you qualify for them.
If you apply for financial aid, you may be offered loans as part of your financial aid offer. A loan is money you borrow and must pay back with interest. If you decide to take out a loan, make sure you understand who is making the loan and the terms and conditions of the loan. Student loans can come from the federal government, from private sources such as a bank or financial institution, or from other organizations. Loans made by the federal government, called federal student loans, usually have more benefits than loans from banks or other private sources. Learn more about the differences between federal and private student loans.
If a student obtains a loan to pay for an eligible educational program of study, the student will have the responsibility to repay the full amount of the loan, plus interest, less the amount of any refund (i.e. scholarships, state and federal grants). If the student has received federal student financial aid funds, the student is entitled to a refund of any remaining funds from the federal student aid programs after eligible university charges are paid. Students receiving federal financial aid have certain rights and responsibilities in accordance with the Borrower's Rights and Responsibilities Statement on the Master Promissory Note. Please contact the ERAU Worldwide Financial Aid Office for additional information or Student Financial Services about refunds.
Please Note: Washington State residents seeking information and resources about student loan repayment or seeking to submit a complaint relating to your student loans or student loan servicer, please visit www.wsac.wa.gov/loan-advocacy or contact the Student Loan Advocate at email@example.com.