Federal Financial Aid is available in 3 different forms: grants, loans (below) and work-study. These types of financial aid help cover school expenses, including tuition, fees, room, board, books, supplies, and transportation. Most aid is need-based, and you are required to file a FAFSA in order to be eligible for any federal aid. Once you have applied for your FAFSA and you have been accepted to Nyack your Award Letter will inform you what you are eligible for. You may also be selected for a Federal process called verification.