Student Guide To Financial Aid

Federal Student Aid At A Glance
Finding Out About Student Aid
Student Aid Notes General Information
Student Eligibility
Financial Need
Dependency Status
Applying
Applying Part II
Special Circumstances
Withdrawals and Deadlines
The Federal Student Aid Information Center
Types of Federal Student Aid -Pell Grants
Stafford Loans Part I
Stafford Loans Part II
Stafford Loans Part III
Direct Stafford Loans
FFEL Stafford Loans
PLUS Loans (Loans to Parents)
Direct PLUS Loans
FFEL PLUS Loans
Consolidation Loans
Direct Consolidation Loans
FFEL Consolidation Loans
Campus-Based Programs
Federal Supplemental Educational Opportunity Grants
Federal Work-Study
Federal Perkins Loans
Federal Perkins Loans Part II
Responsibilities
Borrower Rights and Responsibilities
Tracking Your Loan Information From Aid Approval Through Closure
Notes
Notes & Important Terms

This Guide provides you with information on student financial aid from the federal government. These first three pages are an "at a glance" view of the student aid process. The rest of the publication discusses in detail what you need to know about federal student aid.

Approximately two-thirds of all student financial aid comes from federal programs administered by the U.S. Department of Education's Student Financial Assistance (SFA) office.

For additional sources of financial aid, other than the federal government, remember to talk to the financial aid administrator at the school you plan to attend, visit the library and the Internet and search
under "financial aid" and "student aid."

Beware of scams and services that will search for financial aid money for you for a fee. There is a new law that protects you from this type of fraud.

WHAT is federal student aid?
Federal student aid is financial help for students enrolled in eligible programs* at participating schools to cover school (a four-year or two-year public or private educational institution, a career school or trade school) expenses, including tuition and fees, room and board, books and supplies, and transportation. Most federal aid is need-based.
The three most common types of aid are grants, loans, and
work-study.

GRANTS… 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.

Federal Pell Grants for the 2001-2002 school year ranged from $400 to $3,750. At the time this Guide was published, the maximum grant amount for 2002-2003 had not been determined.

Federal Supplemental Educational Opportunity Grants (FSEOG) range from $100 to $4,000.

LOANS…borrowed money that must be repaid with interest. Both undergraduate and graduate students may borrow money. Parents may also borrow to pay education expenses for dependent undergraduate students. Maximum loan amounts depend on the student's year in school. Federal Stafford Loans are made to students and PLUS loans are made to parents through two loan programs.

Go on to Federal Student Aid Page 1 - Federal Student Aid Page 2
Federal Student Aid Page 3