"Types of Federal Student Aid"
The U.S. Department of Education awards about $150 billion a year in grants, work-study funds, and low-interest loans to more than 15 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!
Federal student aid includes: 1) Grants 2) Loans 3) Work-Study 
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Grants
Financial Aid that doesn’t have to be repaid (unless, for example, you withdraw from school and owe a refund)
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Loans
Borrowed money for college or career school; you must repay your loans, with interest
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Work-StudyA work program through which you earn money to help you pay for school
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Apply for federal student aid using the Free Application for Federal Student Aid (FAFSA®).
And remember, the first F in “FAFSA” stands for “free”--you shouldn’t pay to fill out the FAFSA! |
