FAFSA - types of assistance
Types of assistance
The U.S Department of Education’s website defines federal student aid as “financial aid from the federal government to help you pay for education expenses at an eligible college or career school. Grants, loans and work-study are types of federal student aid.” You must complete the FAFSA to apply for this aid.
There are various types of assistance you may qualify for when filling out the FAFSA: Grants, Work Study, & Loan Programs
Grants
You must complete the FAFSA to be considered for this aid.
Work Study
To be considered for Federal Work-Study, you must complete the FAFSA and indicate on your form that you are interested in being considered for a work-study job. You should then follow up regarding next steps with your financial aid office.
Money earned while attending college.
Does not have to be repaid.
LOAN PROGRAMS
To receive federal student loans, you must first complete the FAFSA. You will also be required to sign a Master Promissory Note (MPN), which explains the terms and conditions of your loan(s). Contact the college you will be attending for information about how to sign the MPN. Loan repayment begins 180 days after you leave college or drop below half-time enrollment.
FEDERAL DIRECT LOAN LIMIT AMOUNTS
To receive federal student loans, you must first complete the FAFSA. You will also be required to sign a Master Promissory Note (MPN), which explains the terms and conditions of your loan(s). Contact the college you will be attending for information about how to sign the MPN. Loan repayment begins 180 days after you leave college or drop below half-time enrollment.
