Approximately two-thirds of all student financial aid
comes from the federal programs you’ll read about here. For additional nonfederal
sources of student financial aid, talk
to the financial aid administrator at the school you plan to attend. Also, visit
the library and check out the Internet, in both cases searching under financial
aid and student aid.
Beware of scams and services that will search for financial aid money for you for
a fee. A law protects you from this type of fraud.
Applying for student aid is free; that’s why the application you use is called the
Free Application for Federal Student Aid (FAFSA). If you need help completing the
FAFSA, you can get that help for free too. You don’t have to pay anyone for assistance.
- How much aid you receive depends on such factors as your
Financial Need, the amount of other aid you’ll receive, and the availability
of funds at your school. Unlike the Federal Pell Grant Program, which provides every
eligible student with funds, each school participating in any of the campusbased
programs receives a certain amount of funds each year from the federal government
for each program. When that money is gone, no more awards can be made from that
program for that year.
- Each school sets its own deadlines for students to apply for campus-based funds.
The deadlines will usually be earlier than the U.S. Department of Education’s deadline
for filing a FAFSA (for 2008-2009, June 30, 2009). Check with the financial aid
office about the school’s deadlines. You might miss out on aid from these programs
if you don’t apply early.
What is Federal Student Aid?
What is a Federal Supplemental Educational Opportunity Grant?
Federal student aid is financial help available to students enrolled in an
eligible program at a school participating in federal student aid programs.
(By school, we mean a four-year or two-year public or private educational institution,
a career school, or a trade school.) Aid covers school expenses, including tuition
and fees, room and board, books and supplies, and transportation. Most federal aid
is based on a student’s demonstrated financial need, rather than on grades. There
are three categories of federal student aid:
GRANTS: Financial aid you don’t have to repay. Generally, you must
be an undergraduate student, and the amount you receive depends on your need, cost of
attendance, and enrollment status (full time or part time). The maximum
amount a student can receive in Federal Pell Grant money for the 2009-2010 award
year (July 1, 2009 to June 30, 2010) is $5,350. Federal Supplemental Educational
Opportunity Grants (FSEOGs) range from $100 to $4,000.
WORK-STUDY: Money you earn while enrolled in school. This money
will help you pay your educational expenses. The Federal Work-Study Program encourages
community service work and work related to your course of study, whenever possible.
You can be an undergraduate or graduate student.
LOANS: Borrowed money you must repay with interest. You can be
an undergraduate or graduate student. Parents may also borrow to pay for the education
expenses of their dependent undergraduate students. Maximum loan amounts depend
on your grade level in school.
Federal Perkins Loans are offered by participating schools to students who demonstrate
the greatest financial need (Federal Pell Grant recipients get top priority). You
repay the loan to your school.
Stafford Loans are lent to undergraduate and graduate school students and PLUS Loans
are lent to graduate school students and parents of dependent undergraduate students
through two loan programs:
- William D. Ford Federal Direct Loan (Direct Loan)Program: Eligible students and
parents borrow directly from the federal government at participating schools. Direct
Loans consist of Direct Stafford Loans, Direct PLUS Loans, and Direct Consolidation
Loans. You repay these loans to the U.S. Department of Education.
- Federal Family Education Loan (FFEL) Program: Private lenders provide federally
guaranteed funds. FFELs consist of Federal Stafford Loans, Federal PLUS Loans, and
Federal Consolidation Loans. You repay these loans to the bank or other private
lender that offered you the loan.
Who gets Federal Student Aid?
The Department of Education stipulates that to be eligible, you must
- Be a U.S. citizen or
eligible noncitizen with a valid Social Security Number.
- Demonstrate by one of the following means that you are qualified to obtain a postsecondary
education:
- Have a high school diploma or a
General Education Development (GED) Certificate.
- Pass an approved ability-to-benefit (ATB) test.
- Meet other standards your state establishes that we have approved.
- Complete a high school education in a home school setting approved under state law.
- Enroll in an eligible
program as a regular
student seeking a degree or certificate.
- Register (or have registered) with the Selective Service if you’re a male between
18 and 25.
How do you apply for Federal Student Aid?
1. Complete the Free Application for Federal Student Aid (FAFSA).
- For FAFSA on the Web, you can go to
www.fafsa.ed.gov (or to www.studentaid.ed.gov and get general student aid information
as well).
- You can get a paper FAFSA from
- a high school guidance office,
- a college financial aid office,
- a local public library, or
- the Federal Student Aid Information Center by calling 1-800-4-FED-AID (1-800-433-3243).
You can apply beginning January 1 prior to the academic year for which you are applying,
and you have until June 30 of the following year (January 1, 2009-June 30, 2010
for 2009-2010) to submit your FAFSA. Be sure to check the FAFSA for the list of
deadlines for state aid.
Schools and states often set deadlines early in the calendar year. These must be
met to receive certain types of funds. Apply as early as you can; you don’t want
to miss out on any source of aid!
2. Review your Student Aid Report (SAR)
Based on whether you have submitted a paper or an electronic FAFSA, the Department of Education will send you either
a paper SAR or an electronic SAR via the Internet. The SAR confirms the information
reported on your FAFSA and will contain your Expected Family Contribution (EFC).
The EFC is a measure of your family’s financial strength and is used to determine
your eligibility for federal student aid. To receive your aid, you must have a complete
and correct SAR.
3. Contact the school(s) you may attend
Speak with the financial aid office staff at the school(s) you’re interested in attending.
Make sure they have all the information they need to determine your eligibility.
The financial aid administrator will review your SAR, and if you’re eligible, will
prepare a letter outlining the amount of aid (from all sources) the school will
offer you.
Federal Student Aid Summary
The following is a summary of Federal Student Aid programs that will help you pay
for school. Check with your school to find out which programs your school participates
in.
|
Federal Student Aid Program
|
Type Of Aid
|
Program Details
|
Annual Maximum
Award Limits
|
|
Federal Pell Grant
|
Grant: does not have to be repaid
|
Available almost exclusively to undergraduates; all eligible students will receive
the Federal Pell Grant amounts they qualify for
|
$5,350 for 2009-2010; may change annually depending on funding
|
|
Federal Supplemental Educational Opportunity Grant (FSEOG)
|
Grant: does not have to be repaid
|
For undergraduates with exceptional financial need; priority is given to Federal
Pell Grant recipients; funds depend on availability at school
|
$4,000
|
|
Teacher Education Assistance for College and Higher Education Grant (TEACH)
|
Grant: does not have to be repaid
|
For undergraduate, post-baccalaureate, or graduate school students planning to teach
an in-need subject—for at least four years—in a school that serves students from
low-income families.
|
$4,000
|
|
Academic Competitiveness Grant
|
Grant: does not have to be repaid
|
For first and second year undergraduates who are eligible for a Pell Grant and who
have successfully completed a rigorous high school program.
|
Up to $750 for the first academic year of study and up to $1,300 for the second
academic year of study
|
|
The National Science and Mathematics Access to Retain Talent Grant (National SMART
Grant)
|
Grant: does not have to be repaid
|
For third and fourth year undergraduates eligible for a Pell Grant and majoring
in physical, life, or computer sciences, mathematics, technology, or engineering
or in a foreign language critical to national security.
|
$4,000
|
|
Federal Work-Study
|
Money is earned while attending school; does not have to be repaid
|
For undergraduate and graduate students; jobs can be on campus or off campus; students
are paid at least minimum wage
|
No annual maximum
|
|
Federal Perkins Loan
|
Loan: must be repaid
|
Five percent loans for both undergraduate and graduate students; payment is owed
to the school that made the loan
|
$5,500 for undergraduate students; $8,000 for graduate students
|
|
Subsidized FFEL or Direct Stafford Loan
|
Loan: must be repaid
|
Subsidized: U.S. Department of Education pays interest while borrower is
in school and during grace and deferment periods
|
$3,500 to $8,500, depending on grade level
|
|
Unsubsidized FFEL or Direct Stafford Loan
|
Loan: must be repaid
|
Unsubsidized: Borrower is responsible for interest during life of the loan
|
$5,500 to $20,500, depending on grade level (includes any subsidized amounts received for the same period)
|
|
Federal PLUS Loan
|
Loan: must be repaid
|
Available to parents of dependent undergraduate students
|
Cost of attendance minus any other financial aid the student receives
|
Frequently Requested Telephone Numbers
|
|
|
General information about the federal student aid programs, assistance in completing
the FAFSA, and information about FAFSA on the Web are available through the Federal
Student Aid Information Center
|
1-800-4-FED-AID
(1-800-433-3243)
|
|
TTY users (for the hearing-impaired) can call
|
1-800-730-8913
|
|
Callers in locations without access to 800 numbers may call (this is not a toll-free
number)
|
1-319-337-5665
|
|
To report fraud, waste, or abuse involving federal student aid funds
|
1-800-MIS-USED
(1-800-647-8733)
|
|
Information on the Direct Consolidation Loan Program
|
1-800-557-7392
|
|
TTY number for Direct Consolidation Loan information
|
1-800-557-7395 |
Useful Web Sites
State Agency Telephone Numbers
These agencies provide information on state education programs, colleges and universities,
student aid assistance programs, grants, scholarships, continuing education programs,
career opportunities, and some guaranty agencies. You can search the U.S. Department
of Education’s database at
www.studentaid.ed.gov, for contact information and Web site addresses. At
the site, click on "Funding," then click on "State aid." You can also contact the
agency by calling the telephone number listed below:
|
Alabama
|
1-334-242-1998
|
|
Alaska
|
1-800-441-2962
|
|
Arizona
|
1-602-258-2435
|
|
Arkansas
|
1-800-547-8839
|
|
California
|
1-888-224-7268
|
|
Colorado
|
1-303-866-2723
|
|
Connecticut
|
1-860-947-1855
|
|
Delaware
|
1-800-292-7935
|
|
District of Columbia
|
1-202-727-6436
|
|
Florida
|
1-888-827-2004
|
|
Georgia
|
1-770-724-9030 (Hope Scholarship/Tuition Eq. Grant)
|
|
|
1-404-656-5969 (Robert C. Byrd Scholarship information)
|
|
Hawaii
|
1-808-956-8213
|
|
Idaho
|
1-208-334-2270
|
|
Illinois
|
1-800-899-4722
|
|
Indiana
|
1-317-232-2350
|
|
Iowa
|
1-800-383-4222
|
|
Kansas
|
1-785-296-3421
|
|
Kentucky
|
1-800-928-8926
|
|
Lousiana
|
1-800-259-5626
|
|
Maine
|
1-800-228-3734
|
|
Maryland
|
1-410-260-4565
|
|
Massachusetts
|
1-617-994-6950
|
|
Michigan
|
1-877-323-2287
|
|
Minnesota
|
1-800-657-3866
|
|
Mississippi
|
1-601-432-6997
|
|
Missouri
|
1-800-473-6757
|
|
Montana
|
1-800-537-7508
|
|
Nebraska
|
1-402-471-2847
|
|
Nevada
|
1-702-486-7330
|
|
New Hampshire
|
1-603-271-2555
|
|
New Jersey
|
1-800-792-8670
|
|
New Mexico
|
1-800-279-9777
|
|
New York
|
1-888-697-4372
|
|
North Carolina
|
1-919-549-8614
|
|
North Dakota
|
1-701-328-4114
|
|
Ohio
|
1-888-833-1133
|
|
Oklahoma
|
1-800-858-1840
|
|
Oregon
|
1-800-452-8807
|
|
Pennsylvania
|
1-800-692-7392 (loan information)
|
|
|
1-800-692-7435 (state grants)
|
|
Rhode Island
|
1-800-922-9855
|
|
South Carolina
|
1-803-737-2260
|
|
South Dakota
|
1-605-773-3455
|
|
Tennessee
|
1-800-342-1663
|
|
Texas
|
1-800-242-3062
|
|
Utah
|
1-800-418-8757
|
|
Vermont
|
1-800-642-3177
|
|
Virginia
|
1-804-225-2600
|
|
Washington
|
1-360-753-7800
|
|
West Virginia
|
1-888-825-5707
|
|
Wisconsin
|
1-608-267-2206
|
|
Wyoming
|
1-307-777-7763
|
|
American Samoa
|
1-684-699-1141
|
|
Guam
|
1-671-475-0457
|
|
Northern Mariana Islands
|
1-670-234-6128
|
|
Puerto Rico
|
1-787-724-7100
|
|
Virgin Islands
|
1-340-774-4546
|
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