▁rep ay ment / de fer ment ▁options , ▁cannot ▁be ▁dis charg ed ▁through ▁bank rupt cy , ▁and ▁are ▁not ▁super vised ▁by ▁any ▁ag ency . ▁ ▁Cons olid ation ▁lo ans ▁ ▁Cons olid ation ▁lo ans ▁combine ▁two ▁or ▁more ▁student ▁and / or ▁parent ▁lo ans ▁into ▁one ▁loan . ▁They ▁are ▁an ▁option ▁for ▁those ▁who ▁find ▁themselves ▁struggling ▁with ▁multiple ▁student ▁loan ▁pay ments . ▁Cons olid ation ▁lo ans ▁are ▁available ▁for ▁most ▁federal ▁loan ▁types , ▁and ▁some ▁private ▁l enders ▁offer ▁private ▁cons olid ation ▁lo ans ▁for ▁private ▁education ▁lo ans . ▁ ▁Work - stud y ▁ ▁The ▁Federal ▁Work - St ud y ▁Program ▁is ▁a ▁form ▁of ▁financial ▁aid . ▁Work - stud y ▁jobs ▁allow ▁students ▁to ▁get ▁campus ▁jobs , ▁when ▁possible ▁within ▁their ▁field ▁of ▁interest , ▁and ▁are ▁more ▁flexible ▁than ▁off - camp us ▁part - time ▁jobs ▁because ▁they ▁are ▁designed ▁to ▁accommod ate ▁student ▁sched ules . ▁ ▁Sch olar ships ▁ ▁While ▁the ▁terms ▁grant ▁and ▁scholar ship ▁are ▁frequently ▁used ▁inter change ably , ▁there ▁is ▁a ▁difference . ▁Sch olar ships ▁may ▁have ▁a ▁financial ▁need ▁component ▁but ▁rely ▁on ▁other ▁criteria ▁as ▁well . ▁Some ▁private ▁need - based ▁awards ▁are ▁confusing ly ▁called ▁scholar ships , ▁and ▁require ▁the ▁results ▁of ▁a ▁F AF SA ▁( the ▁family ' s ▁E FC ). ▁However , ▁scholar ships ▁are ▁often ▁mer it - based , ▁while ▁gr