FAFSA (Free Application for Free Student Aid) 

Program: Federal Student Aid Programs

Program Description:

• A student's financial aid package is likely to include funds from the Federal Student Aid (FSA) programs. Note that not all schools participate in all FSA programs. These programs, described below, are administered by the U.S. Department of Education and provide over $33 billion a year to students attending post secondary schools:

• Federal Pell Grants are available to undergraduate students. Graduate students in a teaching credential program may also qualify. Grants do not have to be repaid

• Federal Stafford Loans are student loans that must be repaid and are available to both undergraduate and graduate students. If the student's school participates in the Federal Direct Loan (Direct Loan) Program, the federal government provides the funds for the Stafford Loan. If the student's school participates in the Federal Family Education Loan (FFEL) Program, a private lender provides the funds for the student's Stafford Loan, although the Federal Government guarantees the loan funds. First-year undergraduates are eligible for loans up to $2,625. Amounts increase for subsequent years of study, with higher amounts for graduate students. The interest rate is variable, but never exceeds 9 percent. There are two types of Stafford Direct Loans:

  1. Subsidized Stafford loan - A loan for which the government pays the interest while the student is in school, during grace periods, and during any deferment periods.
  2. Unsubsidized Stafford loan - A loan for which the student is responsible for paying all the interest that accrues at any point in time.

  • Federal PLUS Loans are unsubsidized loans made to parents for undergraduate students. If a student's parents cannot obtain a PLUS loan, the student may be eligible to borrow additional Unsubsidized Stafford loan funds. The interest rate is variable, but never exceeds 9 percent.
  • Campus-Based Programs are financial aid programs administered by participating schools. There are three Campus Based programs.

    1. Federal Supplemental Educational Opportunity Grants are grants available for undergraduates only; awards range from $100-$4,000.
    2. Federal Work-Study provides jobs to undergraduate and graduate students, allowing them to earn money to pay education expenses.
    3. Perkins Loans are low-interest (5 percent) loans that must be repaid; the maximum annual loan amount is $4,000 for undergraduate students.

Eligibility:
In general to receive aid from federal student aid programs, you must meet the following requirements:

• Be a United States citizen or eligible non-citizen of the United States with a valid Social Security Number;

• Have a high school diploma, a General Education Development (GED) certificate, or pass an approved "ability to benefit" test;

• Enroll in an eligible program as a regular student seeking a degree or certificate;

• Register (or have registered) for Selective Service, if the student is a male between the ages of 18-25; and

• Have a result of Eligible or Partially Eligible for the FAFSA Question “Have you ever been convicted of possessing or selling illegal drugs?”

Other important information:
Ideally, you should complete a FAFSA after you've done your tax return, but don't wait until April. Many colleges award aid on a first-come, first-served basis.  You may not be eligible for state aid if you wait until April to submit your FAFSA.

To complete FAFSA on the Web, click here.

Click here for the website that provides a step-by-step guide through the application questions.

Referral Contact Information
Federal Student Aid Information Center

Phone:  1-800-4-FED-AID (1-800-433-3243)

Web site: www.studentaid.ed.gov