OK, I've tried to learn about financial aid, but I still am utterly confused. I don't have a financial aid counselor, and there isn't any financial aid night in my school either. So I have no idea about the financial aid system. So please can someone explain the whole system? What I understood is that there are the types of aid 1) Scholarship 2) Grants 3) Loans Am I right? And you have to return the loans in some time span wit some interest. Right? Can someone just explain the whole thing.