… Aid - Frequently Asked Questions (UC) … Frequently Asked Questions … What is financial aid? … Financial aid is money that students may use to help cover the cost of their education that is made available by federal and state governments, as … work study, and scholarships are forms of aid that do not need to be paid back under the condition that the student retains their eligibility throughout the semester. Loans are a form of financial aid available for students that need to be … go to Maintain Your Eligibility Maintain Your Eligibility for information on financial aid eligibility. … I do not live with my contributor(s) (e.g. parents/stepparents/spouse) or receive support from them. Do I still need to provide their …