Types of Federal Student Loans Four types of federal student loans are available: Direct subsidized loans Direct unsubsidized loans Direct PLUS loans Direct consolidation loans Direct Subsidized Loans Direct subsidized loans, like most forms of federal financial aid for college, are available ...
Student financial aid Step 1: Exclude your Pell grant from taxable income Step 2: Include your earnings from a work-study award on your tax return Click to expand Key Takeaways FAFSA is the key to obtaining various types of federal financial assistance for college education...
Using information from the FAFSA, the US government issues different types of federal loans. You can't request one loan over another, but you'll find out what you're eligible for on the financial aid award letter that comes from colleges that accept you. Al...
Additionally, qualifying for the work-study program once does not mean a student can participate each year. Students need to complete the FAFSA every year they want any form of financial aid, as family income often changes and may result in a student no longer qualifying. Types...
Types of aid available through the FAFSA By filling out the FAFSA, students gain access to potentially thousands of dollars through grants,student loansand more. Grants Grants are a type of free money based on financial need. Federal and state grants are available through the FAFSA. ...
college financial aid offices to determine the exact amount of money the student will need in order to attend their college. Many financial aid offices are then able to direct the student, and their parents, to the appropriate agency, or to help the student get the funds from the school ...
To be considered for federal financial aid, you must complete and submit the Free Application for Federal Student Aid, or FAFSA. Most states, colleges, and universities also use the FAFSA to award other types of institutional financial aid, including state- and college-sponsored financial aid, su...
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Once you've decided on the federal direct loans you want, contact your school's financial aid office to take the necessary steps. The money will be sent directly to the school for tuition, room and board, and other costs. Any money left over is given to you. All of the money must be...
The FAFSA, which is administered by the office of Federal Student Aid, is the doorway to all of these types of aid. The questions on the FAFSA are intended to determine the student’s level of financial need and establish theirStudent Aid Index (SAI). The SAI represents an eligibility inde...