Understanding Types of Financial Aid
A wide variety of resources are available to help students and their families meet the costs of a PLU education. More than 90% of PLU students receive some form of financial aid. Financial aid is money to help meet the cost of your education that comes from federal, state and university resources, as well as alumni, friends and sources independent of PLU.
Scholarships & Grants:
Awards that do not have to be repaid, they can be based on academic achievement, leadership, financial need and academic ability.
Income Shared Agreements:
An ISA is a contractual agreement in which a student receives education funding. In exchange, the student agrees to share a fixed percentage of future income over a defined number of years.
ISAs offer an alternative to student loan debt, which places the burden of financing education entirely on the student. ISAs create a system where that risk is shared by the student and the educating institution.
Most are interest-free while you are in school, and a low-interest repayment program begins six to nine months after graduation. Some loans are based on financial need.