Types of Aid
For many students and families, loans are a necessary part of paying for college. If at student prefers to borrow rather than work during the academic year, we will assist with obtaining a student loan. Our federal loan programs include:
- Federal Perkins Loan
- Federal Direct Student Loans
- Federal Direct PLUS Loans
Students may also choose a private loan option instead, or to supplement a federal loan or other types of aid. These loans are provided by private loan lenders.
If students request a loan, we will always recommend the best loan program for which they are eligible. Not all students are eligible to borrow from all loan programs. Learn about the various loans, and their interest rates, fees, repayment terms and other factors to be considered.
Carnegie Mellon offers a Carnegie Scholarship to incoming freshman. It is awarded to academically and artistically talented middle income students who qualify for little to no need-based financial aid.
Students may qualify for one or more of these grants as part of their need-based financial aid award:
- Carnegie Mellon Undergraduate Grant
- Federal Pell Grant
- Federal Supplemental Education Opportunity Grant (SEOG)
- State Grants
We automatically consider your eligibility for federal grant funds when reviewing your financial aid application.
Another way for students to cover their responsibility of a financial aid package is to obtain outside scholarships. Outside scholarships will reduce student responsibility dollar-for-dollar. Outside scholarships are not from federal, state or institutional (school) sources.
One way to cover part of the student responsibility portion of a financial aid package is to work part-time during the academic year. There are many student employment opportunities on campus, both need-based and non-need-based.
Most students are paid directly by their employers. Others are paid with a combination of federal and university funds through the Federal Work-Study program, which includes a component for Community Service Federal Work-Study.