There are three kinds of financial aid: gift aid (scholarships, awards, and grants), loans, and employment. Gift awards do not require repayment; grant terms stipulate that need be demonstrated, while scholarships generally have academic or other special requirements. Loans must be repaid, usually after the student leaves college. Employment programs allow the student to earn money for personal and other expenses through a part-time job. Putting the different types of aid together to meet financial need is the responsibility of the Office of Financial Aid and is referred to as the aid package. Decisions are based upon financial need, qualifications, and the funds available tothe university.

After financial need has been established, the student is informed by letter of the exact nature of aid awarded. The total amount of each award is revised annually based upon the available funds and on information provided by the family on the aid application filed each year. When comparing an aid offer from Rutgers with aid offered by another institution, consider not only the total dollars offered, but also the type of aid that is being offered and how much aid is being offered in relation to the cost of attending the institution.