Getting a college education is a big deal—and a big investment. That’s where financial aid comes in. Whether it’s grants, scholarships, loans or work-study, financial aid can help make college more affordable. But here’s the thing: If you don’t understand the policies behind it, you could miss out on money, take on more debt than you need or even risk losing aid you already have. Be sure to read each policy listed and become familiar with your rights and responsibilities.