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Admission & Aid
Financial Aid

Types of Aid

Applying for financial aid can feel overwhelming. As a public university, William & Mary works hard to keep the cost of our exceptional education affordable. Our office is committed to providing you with the financial tools and resources to help you navigate your investment in a W&M education.

W&M Scholarships & Awards

The university is committed to affording exceptional students the opportunity to attend William & Mary, regardless of their financial circumstances. Over $50 million in grants and scholarships is distributed annually.

Merit-Based Scholarships & Awards

The admission office confers three merit-based awards: the 1693 Scholars program, the William & Mary Scholars Awards and the James Monroe Scholars program.

Need-Based Scholarships & Grants

The amount of need-based financial aid offered has doubled over the past decade through over 300 institutional grants and our Pell Grant Guarantee.

Financial Aid Options

{{youtube:medium:right|Pn4OECMTh5w,Types of Federal Student Aid}}There are four basic types of financial aid:

Learn more about the types of federal student aid available.

Types of Aid

  • Scholarships

    A scholarship is support awarded to a student based on a variety of factors, including academic achievement, community involvement, areas of study and financial need.

  • Grants

    A grant is a form of aid that is gifted to a student based on their financial need. Grants are designed to help with tuition and typically do not need to be paid back.

  • Loans

    A loan is borrowed from the government or a private entity to help pay for education and related costs. All student loans must be repaid along with any interest that accrues over time.

  • Student Employment/Federal Work-Study

    Federal Work-Study provides employment opportunities for students with financial need (as determined by the FAFSA) to earn money to help pay expenses incurred while enrolled.