1. Grants: These are gifts that don't need to be repaid. The most common example is the Pell Grant.
2. Loans: These are borrowed funds that must be repaid with interest. There are several types of federal student loans, including subsidized and unsubsidized loans.
3. Work-study: This is a program that provides part-time jobs to students who need help paying for college. Earnings are paid directly to the student.