University World: Find University all around the world

         Find Universities

University World: Find University all around the world
> Universities <
.: USA Universities
.: Canada Unversities
.: Europe Universities
> Country Info <
.: United States
.: Canada
.: Europe
> Learn Languages <
.: English
.: German
.: Italian
.: Spanish
.: Study Abroad
> More <
.: Financial Aid
.: Scholarships
.: Other Resources
Submit a School

Federal Assistance


If you want to be considered for Federal financial assistance, you must complete the Free Application for Federal Student Aid (FAFSA). The quickest way to do this is online at:

The FAFSA can be filed no earlier than January 1st of the year you will be attending. By filing the FAFSA, you college will be able to tell you what types and amounts of Federal financial aid resources you are qualified for.

Federal financial aid comes in three forms: grants, work and loans.

Grant Programs

Federal Pell Grant

Available to the neediest students only
Up to $3125 annually
Based on EFC
Federal Supplemental Education Opportunity Grant

Available to extremely needy undergraduates only
Up to $3,000 annually
Average award tends to be $1,000
Based on EFC and must be Pell eligible

Work Programs

Federal Work Study

Available to students with need
Average award is $1,600 but can be more
Earnings excluded from Student Contribution portion of EFC
Can participate in Community Service positions off-campus depending upon availability.
Award is paid directly to the student as a paycheck

Loan Programs

Federal Stafford Loan

Subsidized - government pays interest for you
Unsubsidized - you pay the interest or defer interest until graduation/cessation of attendance.
Variable interest rate capped at 8.25%
Up to 25 years to repay
Available to Undergraduate and Graduate Students
Range from $2,625 to $18,500 depending upon grade level
Federal Perkins Loan

Available to needy undergraduate and graduate students
Maximum award is $3,000
Average award is $1,000
School determines eligibility
5% fixed interest rate
No interest charged while enrolled at least half time
Payment begins 9 months after graduation or cessation of enrollment on at least a half time basis

Federal PLUS Loan

Available to parents of undergraduate students
Variable interest rate capped at 9.00%
Payment begins after first or second disbursement depending on lender
Up to 10 years to repay
Borrow up to Cost of Attendance minus financial aid including other loans
Must be creditworthy
In all cases, your school's financial aid office will determine your eligibility for the above sources of assistance. However, you are free to select your lender (except for schools that participate in Direct Lending)

The Department of Education has more information on programs available to students. I strongly encourage you to visit:

The U.S. Department of Education