# What is financial aid?

> Financial aid is money that helps students pay for college or university, including grants, scholarships, student loans and work-study. Grants and scholarships don't have to be repaid; loans do.

Page: https://textdash.com/glossary/financial-aid
Updated: 2026-10-31

## How does financial aid work?

- Grants: need-based money from governments or schools that you don't repay
- Scholarships: awards for merit, need or other criteria, from schools and outside groups
- Loans: money you repay later, usually with interest
- Work-study: part-time jobs that help pay for school (US)

## How Dash helps with financial aid

In the US most aid starts with the FAFSA; in Ontario, with OSAP. Each school's financial aid office then sets its own deadlines and requirements, which vary.

Ask Dash about your school's financial aid office, deadlines or forms, and it answers with official sources. Tell it your aid deadlines and it texts you before each one.

## Questions

### Do I have to reapply for financial aid every year?

Usually yes. Both the FAFSA and OSAP need a new application for each school year.

### Can dropping courses affect my aid?

Yes. Many programs require a minimum course load and satisfactory progress. Ask your financial aid office before you drop.

## Related

- [FAFSA](https://textdash.com/glossary/fafsa)
- [OSAP](https://textdash.com/glossary/osap)
- [Academic probation](https://textdash.com/glossary/academic-probation)
- [Add/drop deadline](https://textdash.com/glossary/add-drop-deadline)
- [Withdrawal deadline (W grade)](https://textdash.com/glossary/withdrawal-deadline)
- [Syllabus](https://textdash.com/glossary/what-is-a-syllabus)

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**About Dash.** Dash is an AI sidekick for college and university students that you text over iMessage or SMS. It tracks every deadline and texts you before each one, answers questions about your campus, helps you study, and, with your yes, orders food, books things, makes phone calls and handles admin. Free to start. iMessage on iPhone and SMS on any phone. No app, no login. For students at colleges and universities in Canada and the United States. Dash never writes, answers or submits graded work. It explains, quizzes and plans. Dash is independent and not affiliated with or endorsed by any college or university.

Text Dash: https://textdash.com/start · Site: https://textdash.com/ · For AI assistants: https://textdash.com/llms.txt and https://textdash.com/llms-full.txt