Navigating Financial Aid
Completing your FAFSA
Types of Aid
- Scholarships: This type of financial aid is merit-based and does not need to be repaid, free money for school! The UNM Scholarship Office has a list of Transfer, Resident and Non-resident Scholarships. You should also seek external scholarships on your own. The FAFSA is not required and most scholarships will have their own application and requirements.
- Grants: This type of financial aid award is based on need and is not repaid; grants are a type of free aid! Only undergraduate students are eligible for Grants. The FAFSA is your first step to apply; UNM will automatically consider you for any grants you may be eligible for based on your financial need.
- Work Study: This type of assistance is where you have a part-time job usually on-campus and earn money through working. You receive a paycheck like any other job and use your wages to pay college and living expenses. The FAFSA is your first step to apply for Work Study.
- Loans: This type of financial aid award must be repaid and accrues interest. Student loans are designed to help students pay for tuition, books and living expenses, and carry low interest rates. To apply you’ll complete the FAFSA first. UNM has student loans and parent loans available
