Federal Resources

FEDERAL FINANCIAL AID RESOURCES**
**U.S. Department of Education, Federal Student Aid, Funding Education Beyond High School:  The Guide to Federal Student Aid 2009-10, Washington, D.C., 2008.

Student Aid on the Web
Click on Students, Parents and Counselors and you can:

  • Find information on federal studentaid.
  • Use "MyFSA" to create a personalized folder to record your interests, career and college searches to help you decide on a career and locate schools offering majors in that field. Track your progress in the college planning and application process by applying to schools online, access other sources of non-federal aid, and store your personal information to populate fields on FAFSA on the Web.
  • Use FAFSA4caster to get an early estimate of your eligibility for federal student aid, and an early start in the financial aid process. When you are ready to apply for aid, much of the information you enter in FAFSA4caster will populate the FAFSA on the Web.
  • Apply online using FAFSA on the Web (the online version of the Free Application for Federal Student Aid or FAFSA).
  • Obtain a Federal Student Aid PIN to sign your FAFSA on the Web.
  • Look up the status of your federal student loan.

Free Application for Federal Student Aid (FAFSA) is the form you need to complete to apply for state, federal and college-specific financial aid.  You can pick up the FAFSA at your high school or college or you can apply on-line athttp://www.fafsa.ed.gov/. 

Call the Federal Student Aid Information Center (FSAIC) if you need answers right away to questions about federal aid.  Call 1-900-FED-AID (1-800-433-3243) Monday through Friday 7:00 a.m. to 7:00 p.m.  Or go online at:  http://studentaid.ed.gov/students/publications/student_guide/index.html. 

The FSAIC staff can answer your federal student aid questions and can tell you what you need to know – FREE – including:

  • Information about federal student aid programs.
  • Help completing the FAFSA.
  • Help in making corrections to your Student Aid Report (SAR), which contains your application results.
  • Information about the process of determining financial need and awarding aid.
  • Information about your federal student loans. 

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 – allows you to earn money for your education.
  • Loans – allow you to borrow money for your education.  You must repay your loans, with interest. 

FEDERAL GRANTS
Federal Supplemental Educational Opportunity Grants (FSEOG).  The FSEOG program provides need-based grants to low-income undergraduate students to promote access to postsecondary education.

Pell Grants – The Federal Pell Grant program provides need-based grants to low-income undergraduate and certain post baccalaureate students to promote access to postsecondary education. 

FEDERAL WORK STUDY
FEDERAL WORK Study Programs provide funds that are earned through part-time employment to assist students in financing the cost of postsecondary education.

FEDERAL LOANS
The Federal Perkins Loan Program provides low-interest loans to help needy students finance the cost of postsecondary education.

Stafford Loan – Stafford Loans are fixed rate federal loans for undergraduate and graduate students attending college at least half-time.  Stafford loans are the most common and one of the lowest-cost ways to pay for school.  There are two types of Stafford loans:  subsidized and unsubsidized.  You must have financial need to receive a subsidized Stafford loan and the US Department of Educational will pay the interest that accrues.  Financial need is not a requirement to obtain an unsubsidized Stafford loan and you are responsible for paying the interest.

PLUS Loans (Direct or FEEL) are loans parents can obtain to help pay the cost of education for their dependent undergraduate children.  In addition, graduate and professional degree students may obtain PLUS loans to help pay for their own education.

Consolidation Loans (Direct or FEEL) allow student or parent borrowers to combine multiple federal education loans into one loan with one monthly payment.

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