| . The Federal Student Aid Program is the largest
source of college financial assistance in the form of loans, each year providing more than
$60 billion in funding. The FSA programs comprise:
Loans through the DL Program come directly
from the U.S. government, while loans through the FFEL Program come from private lenders
such as banks. A Perkins Loan is a campus-based programs.
There are many sources of information on federal aid, and you should know that all of the
information you need is available for free from the U.S. government and from your college
financial aid office - there is no need to pay any organization for this information!
Basic Information
If you're still in high school, then a good introduction to financial aid for college is
the booklet Funding Your Education published by the U.S. Department of Education
(DoE). If you've already graduated from high school and want more details, then the Student Guide, also published by the DoE, is a good place to start.
If a college offers Stafford or PLUS loans through the Department of Education's Direct
Loan Program, then see the articles on Stafford or PLUS loans. If your college offers these loans through the FFEL
Program, you can get information about that program from your school or its private
lenders.
Applying for Federal Aid
To apply for aid, you need to fill out the Free Application for Federal Student Aid or
FAFSA. You can do this online at FAFSA
on the Web, or you can apply using a paper-based FAFSA available at libraries and
through your high school or college counselor's office. You can also call 1-800-433-3243
to have a paper application sent to you. |
