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Considering Financial Aid?

Visit www.FederalStudentAid.ed.gov
for complete information on Federal Student Aid
options as well as Loan Forgiveness Programs that may be available through
the office of the U.S. Department of Education.

 

What Is Financial Aid?

Monetary assistance from the federal government and non-federal sources in various forms:

  • Grants: Free money or financial assistance that does not have to be paid back.
  • Pell Grant: Maximum amount awarded is $4,731.
  • Campus-Based Aid: Programs administered directly by the financial aid office at each participating school. Not all schools offer these programs.
  • Federal Supplemental Educational Opportunity Grant (FSEOG)
  • Federal Work-Study (FWS)
  • Federal Perkins Loan
  • Loans: Money that has to be paid back.
  • Federal Family Education Loans (FFEL): Funds come from a bank, credit union, or other participating lender. Options are available for which lender can be used. A preferred list is kept by participating schools.
  • Direct Loans: Funds come directly from the federal government. Loans can be either subsidized or unsubsidized.
  • Subsidized: A loan where the borrower does not have to worry about interest accruing while in school, or during a grace or deferment period.
  • Unsubsidized: A loan where interest begins accruing the moment the loan is disbursed or used. The borrower is responsible for all interest accrued.


Where Can I Apply?


The FAFSA is the federal application for financial aid, but it is also used to apply for aid from other sources, such as your state or school. State deadlines are normally much earlier than Federal deadlines. Ask your financial aid office for information about federal and state deadlines.


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