FAFSA application can determine should you be allowed to obtain federal student aid & what kinds of financial aid that you’re entitled to. Not all college students are qualified for all student aid plans. Briefly, the federal student loan plans you’re trying to get through the FAFSA are student loans, work-study and student grants. Here is some student financial aid programs that you can find out:
Pell Grant – This type of student loans For college students with proven need
Federal Supplemental Educational Opportunity Grant – Only provided for students with proven need
Academic Competitiveness Grant – For college students that are eligible for Pellgrant , American citizens and also go after an extensive highschool programs
National Science & Mathematics Access to Retain Talent Grant – For junior or senior college student that are eligible for PellGrant and also achieve & maintain a minimum of a 3.0 gpa
Federal work study – a student aid which based on college student employment program
Federal Perkins Loan – Low interest rate education loan for college students who have demonstrated need ….
Subsidized Student Loan, Direct or Stafford – The interest on these loans will be paid by The US federal government, while the scholar is in college and for half a year following he or she graduates or leaves school. – www.StudentAid.Ed.Gov
Unsubsidized Student Loan, Direct or Stafford – Interest to grow slowly on these student loans when the college student is attending school. Here No demonstrated need to have.
Direct or Stafford PLUS Loan – Parent Loans provided for Undergraduate. This student loan provided in a parents’ name for the college students’ education related costs. Currently PLUS loans are qualified for College Graduate students.www.StudentAid.Ed.Gov
Remember that the list above only offers the federal student aid plans. Your state might have its own loan and or grant programs that you need to start seaching. Contact your own school’s student loan office / your highschool counseling office so you can figure out the particular demands for StateAid. www.StudentAid.Ed.Gov
Although right now there are plenty of aid programs you can out there, keep in mind not all college students are qualified to acquire those financial aid. All US federal student aid programs certainly have their own eligibility requirements. Here is The standard qualifications requirements that you need to take note:
- You need to prove your financial need determined by your own FAFSA data
- For US citizenship only or eligible noncitizen status but have a valid SSN
- Being a certificate or degree seeking student within a qualified program
- Highschool diploma / the equivalent needed
- You need to be signed up with the Specific Service should you be needed to be registered
- You need to maintain adequate educational improvement when in college (your own institution puts its own specific satisfactory academic improvements / progress standards. You have to be aware of such expectations)……..
www.StudentAid.Ed.Gov – Now that you’re aware of what is expected of you, did you know that the federal government has some high expectations of institutions of higher learning? To be title IV eligible (the federal code that regulates federal aid and aid eligible institutions) an institution must be accredited, calculate and make public its school loan default rate, its employment rate, and its graduation statistics. The school’s financial aid office must make public the location and hours of the counseling staff, types of aid available, post procedures and deadlines for each aid program and the procedure for selecting financial aid recipients.www.StudentAid.Ed.Gov
Also the FAO (financial aid office) must make clear it’s procedure for determining financial need, its packaging process, its method of financial aid payments, its satisfactory academic progress standards and the details of your work study job if you are awarded one.www.StudentAid.Ed.Gov
You should be aware now that the financial aid process is a commitment by the federal government, the institution of higher learning that you attend, and yourself. Each has its job to do, its processes to follow and its standards to maintain. Your part in the process as both student and consumer cannot be overstated.www.StudentAid.Ed.Gov
Christina Tangalakis is an accomplished college financial aid counselor who writes for FinancialAidFinder.com. Check her regular student financial aid blog on the free website every week for new tips on scholarships, grants, and college loans. The website is designed for college and high school students as well as parents who need to learn more about completing financial aid applications, where to find college financial aid, and how to utilize the financial aid office.