FAFSA stands for Free Application for Federal Student Aid. As the name implies, the application process is completely free. The information gathered is strictly confidential, and is information that you have already provided when you filled out your Federal Income Tax Return.
Many students don’t fill out the FAFSA because they think they won’t qualify for aid, but millions of dollars are left unclaimed every year. We recommend that every student fill out a FAFSA. There’s nothing to lose, and you may be surprised to find that you actually qualify for financial assistance.
Federal Student Aid includes grants, work study, and loans. Financial aid will not cover all educational expenses, but is designed to assist students in meeting those needs.
A Pell grant is a form of financial aid designed to assist students in paying college expenses. Unlike loans, Pell grants do not have to be paid back. Pell grants are awarded based on financial need. To be eligible for a Pell grant, the student must fill out a Free Application for Federal Student Aid (FAFSA) form. See fafsa.gov for more information.
The work study program is a Federally funded program based on financial need. It is designed to give students a way to earn money while attending college. Some of the student jobs on campus are reserved for students who qualify for the work study program. Students must fill out a Free Application for Federal Student Aid (FAFSA) form to see if they qualify. See fafsa.gov for more information
Both subsidized and unsubsidized loans are Federal loans. There are two main differences between the two. First, to borrow using a subsidized loan, the student must demonstrate financial need. Unsubsidized loans can be taken out by any student, regardless of their financial situation. The second difference is that with subsidized loans, the Federal Government pays the interest as long as you are still in school. Unsubsidized loans begin accruing interest from the moment they are dispersed. The interest will be added to the total amount that you will have to repay when you leave school. To see if you qualify for either type of loan, you will need to fill out a Free Application for Federal Student Aid (FAFSA) form. See fafsa.gov for more information.