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… 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 well as public and private organizations in the form of grants, fee waivers, part-time employment, loans, and scholarships. The funds are available to make it possible for students to continue … assets on the financial aid applications, families living abroad with assets in another currency will need to convert those amounts to U.S. dollars before reporting them.  If the contributor(s) are not U.S. citizens or eligible non-citizens, …