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Financial aid is available from federal and state governments, educational institutions, and private organizations. It can be awarded in the form of grants, loans, work-study, and scholarships. In order to apply for federal financial aid, students must first complete the Free Application for Federal Student Aid .
The Free Application for Federal Student Aid (FAFSA) is a form completed by current and prospective college students (undergraduate and graduate) in the United States to determine their eligibility for student financial aid.
Most federal aid is need-based. The three most common types of aid are grants, loans, and work-study funds. Grants are a type of financial aid that does not have to be repaid. Generally, grants are for undergraduate students and the grant amount is based on need, cost of attendance, and enrollment status.
Every year, millions of prospective and current college students complete the FAFSA to determine their financial aid for the following school year, including federal loans, grants and...
Undergraduate students with financial need. Direct Unsubsidized Loan. $5,500 to $20,500 per year, depending on year in school and dependency status. Undergraduate and graduate students. Direct ...
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The FAFSA determines eligibility for federal Pell Grants and federal student loans – and in most cases, the financial aid provided by colleges as well, though some require students to submit an ...
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