The federal Student aid is a US Government funded program that offers thousands of students aspiring to go to college or pursue career schools the adequate amount of fund necessary to pay for their college. A part of the US Department of Education these programs offer more than $150 Billion in federal grant each year to students all across America. More than 15 million students take advantage of these programs and pursue their dreams of having a college degree or finishing career schools.
This website, www.fafsa.ed.gov imparts information to students and their families about the availability of federal student grants under Title IV of the Higher Education Act of 1965, along with the eligibility criterion and the process of applying for the same. The same information available on the website is also available with the Financial Aid office of the college where you’re studying. There are many other charitable and public foundations which also offer students the necessary information to understand the available programs and his/her eligibility for the same.
There are many different types of loans and grants available for the average American student. Grants denotes the financial aids that financial aids that do not come with a repayment clause. However in the event you withdraw from the school and you owe a refund, then the amount has to be returned back. The second type of financial aid is loans. This has a repayment clause. The borrower has to repay the same along with interest after completion of schooling. Work-study is the third type of financial aid in which a work program is offered to you and you can earn money in order to repay for your college expenses.
All these loans and grants are applicable to students who fulfill the following criteria:
The student has to be a citizen of USA and or a non-citizen who has a valid Social Security Number. You will also need to have High School Diploma or a Certificate of General Education Development, or must have completed home schooling or have passed a test which will determine your “ability to benefit”. These loans and grants are awarded subject to that you’re making satisfactory academic progress post the awarding. It is also required if you’re a male and within the ages of 18 and 25 that you must register for selective service. If you’re a member of the US military services and currently not on active duty, then also you need to register.