Federal Student Aid

Author: Carla Abraham

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Federal student aid is the single largest source of financial aid for college in the United States. The U.S. Department of Education provides over 67 billion dollars in federal aid each year!! Eligible applicants can receive loans and grants for college tuition and expenses. This could be used for a 2-year, 4-year, technical, vocational, online, professional or graduate degree programs. It is estimated that more than 1 million students miss out on Federal Pell Grants each year because they do not fill out the FAFSA (Free Application for Federal Student Aid).  The first step to qualifying for and receiving any type of Federal Student Aid is to fill out the FAFSA. If you are wondering about Federal Student Aid, let us explain:

 

There Are Three Types of Federal Student Aid :

1.  Loans

  • Money that is loaned to you to help pay for college and tuition expenses.
  • Federal loans must be repaid once you finish or leave school.
  • Some federal loans offer lower interest rates and flexible repayment schedules.

 

2.  Federal Grants

  • Money that is awarded to students and their families to help finance college tuition and expenses.
  • These grants do not need to be repaid and are awarded based on financial need.

 

3.  Work-Study Programs

  • You work to help pay for college tuition and expenses.

 

Again, the first step to qualifying for any federal student aid program; loans, grants or work-study, is to apply with FAFSA or the Free Application for Federal Student Aid. You can visit the FAFSA website where you will find step by step instructions and an online application in both Spanish and English.

If you are committed to going to college, there are a variety of options to help finance your education. If you would like to learn more about the type of Federal Student Aid Programs available, you can visit our Free Federal Aid Search.