Financial Aid can be confusing, at times, and conjure up many questions.
Finaid has compiled information and put it all on one, easy to understand, webpage.
What is the FAFSA?
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.
To apply for federal student aid, such as federal grants, work-study, and loans, you need to complete the Free Application for Federal Student Aid (FAFSA). Completing and submitting the FAFSA is free and easier than ever, and it gives you access to the largest source of financial aid to pay for college or career school.
In addition, many states and colleges use your FAFSA information to determine your eligibility for state and school aid, and some private financial aid providers may use your FAFSA information to determine whether you qualify for their aid.
Financial aid can come from federal, state, school, and private sources to help you pay for college or career school.
Besides financial aid, you also should think about what you can do to lower your costs when you go to college.
“Types of Federal Student Aid” Video
Check out this video to learn about grants, loans, and work-study jobs and how they can help fund your education. (Captioning available in English and Spanish; just start the video and click on the CC symbol at the bottom.)
Aid and Other Resources From the U.S. Federal Government
The federal government offers a number of financial aid programs.
Besides aid from the U.S. Department of Education (discussed below), you also might get
The U.S. Department of Education awards more than $120 billion a year in grants, work-study funds, and low-interest loans to more than 13 million students. Federal student aid covers such expenses as tuition and fees, room and board, books and supplies, and transportation. Aid also can help pay for other related expenses, such as a computer and dependent care. Thousands of schools across the country participate in the federal student aid programs; ask the schools you’re interested in whether they do!
There are three types of federal student aid:
- Grants—financial aid that doesn't have to be repaid (unless, for example, you withdraw from school and owe a refund)
- Work-study—a work program through which you earn money to help you pay for school
- Loans—borrowed money for college or career school; you must repay your loans, with interest
Apply for federal student aid using the Free Application for Federal Student Aid (FAFSA®) form. And remember, the first F in “FAFSA” stands for “free”—you shouldn’t pay to fill out the FAFSA form!