Grants

Grants are financial aid that does not have to be repaid. Most grants are based on financial need. A grant is a monetary stipend awarded to students who can prove need or specific skill. Grants do not have to be paid back. They are awarded by the federal government, state governments, schools and other institutions. Federal grants pertaining to your student financial...

An Education on Education Loans

Education Loans There are two main categories of education loans: Need based loans are federally insured, government subsidized and awarded to families to assist in covering the family contribution when no cash is available. In most cases, the federal government covers the interest while the student is in school. Loans that will be offered as part of your aid package...

How To Pay for College

Many colleges provide information on average costs for attendance. However, these costs will vary based on your lifestyle and the major course work you decide to pursue. In addition to the typical cost of attendance at a college, such as tuition, room and board, you will need to figure in additional fees, books, supplies and miscellaneous expenses, such as personal...

Applying for Financial Aid

Eligibility Who is eligible for financial aid? If you meet the criteria listed below, then you are eligible: You must have a high school diploma, GED or pass a test approved by the U.S. Department of Education You must have a valid social security number You must be enrolled in an eligible associate, bachelor or graduate degree program before you can receive the...

How To Reduce College Expenses

Okay, so you've read about School Costs, Direct and Indirect Costs. Now it's time to learn about a few things you can do to reduce some of those costs. In addition to scholarships, grants and student loans, there are things you can do to directly effect the cost of your education. Expenses means costs incurred includes living and food costs, transportation, debt...

Side-by-Side Comparison of All Federal Student Aid (Loans & Grants) Program

Program Type of Aid How to apply Program Details Eligibility is based on and Monthly Loan/Grant Repayment Schedule and Duration Annual Award Amount Federal Pell Grant Grant: does not have to be repaid FAFSA Available almost exclusively to undergraduates; student may receive up to two consecutive maximum awards in a year if attending school year-round The Pell...

Loan consolidation and Federal Consolidation Program

Finally, if you are currently delinquent or in default on your Federal student loan, loan consolidation will cure your delinquency or default status. Why? Because a consolidation loan pays off the balance on those loans. Consolidation does not postpone payments, but does reduce them, making them more affordable. In consolidation, interest is paid as part of each...

Adult and Continuing Education

Assistance for the non-traditional student (in terms of financial aid) works basically the same as for any other student. Clearly, however there exist certain nuances and considerations that can not be overlooked. Some examples might include, studying less than half-time and special scholarships for the adult learner. For the most part, continuing education students...

Federal Parent Loan for Undergraduate Students (PLUS)

Federal PLUS Loan Federal Parent Loans for Undergraduate Students (PLUS) are borrowed in the name of the parent. The interest rate varies, but is capped at 9%. Finding a lender for the PLUS loan shouldn't be a chore. The credit standards are not all that stringent. Most applicants receive approval for this loan. Parent Loan for Undergraduate Students (PLUS)—is...

Different Types of Student Loans After You Graduate, Leave School or Drop Below Half-time Enrollment

Student loans are a form of financial aid that must be repaid, usually after you leave school. The federal government offers both subsidized and unsubsidized loans. The federal government pays the interest on subsidized loans while you are enrolled at least half time. For unsubsidized loans, you are responsible for paying the interest during enrollment. Federal law...

Entrance and Exit Loan Counseling For Undergraduate, Graduate/Professional Students

Complete loan entrance counseling before you receive your first loan disbursement, and exit counseling before you leave school. This session provides you with useful tips and tools to help you develop a budget for managing your educational expenses and helps you to understand your loan responsibilities. Parent PLUS Loan borrowers do not participate in entrance...

Financial aid for Military and Their Dependents

Starting in August 2009, veterans who served after September 11, 2001, became eligible under the Post-9/11 GI Bill for full tuition and fees, a monthly housing stipend, and a stipend of up to $1,000 a year for books and supplies. (The amount is based on time served, and the cost of in-state tuition and fees plus books and housing; unused benefits can be transferred...

Frequently Asked Question

Many visitors write in with questions regarding the financial aid process. In order to better serve the community, we have compiled a short list of the more frequently asked questions we receive. Can't find an answer to your question? Try posting it to our Message Board or you may also use our feedback form. Are all schools eligible to offer federal financial aid?...

Glossary

Glossary of Education Aid Posted Alphabetically By Terms