Student Financial Aid
Is someone in your family going to college this year? Are you uncertain how to pay for his or her education? The U.S. Department of Education may be able to help. This year, the Department of Education will provide more than $62 billion in aid to help millions of students and their families pay for postsecondary education. The first step in determining your student's eligibility for financial aid is completing the Free Application for Federal Student Aid (FAFSA). Completing the FAFSA on the Internet saves processing time, allows you to check your application's status electronically, and makes corrections, such as your address and school of choice, easier.

Although the application deadline is June 30, 2003, students and their families are encouraged to complete the FAFSA as early as possible to be considered for the widest selection of financial aid options. Results can be sent to as many as six different schools, making it easy to complete the FAFSA before a student decides which school they will attend. To help in your college or graduate school planning, GovBenefits.gov is highlighting a few of the financial aid programs available for students and their families.

  • Federal Parent Loans for Undergraduate Students (PLUS)
    Federal PLUS loans enable eligible parents to borrow to pay the educational expenses of dependent undergraduate children who are enrolled in school at least half time. For more information visit www.govbenefits.gov/govbenefits/benefits/report.jhtml?bid=601

  • Federal Pell Grants
    Federal Pell Grants help financially needy undergraduate students, who have not earned a bachelor's or professional degree, meet the cost of postsecondary education. (In limited cases a Pell Grant may be awarded for attending a post-baccalaureate teacher certificate program.) For more information visit www.govbenefits.gov/govbenefits/benefits/report.jhtml?bid=417

  • Federal Perkins Loans
    A Federal Perkins Loan is a low-interest (5 percent) loan for both undergraduate and graduate students with financial need. The school is the lender. The loan is made with government funds with a share contributed by the school. For more information visit www.govbenefits.gov/govbenefits/benefits/report.jhtml?bid=418

  • Federal Subsidized Student Loans (Stafford)
    Subsidized Stafford Loans are awarded to students on the basis of financial need. The borrower pays no interest while in school and during other authorized periods. For more information visit www.govbenefits.gov/govbenefits/benefits/report.jhtml?bid=599

  • Federal Work-Study
    The Federal Work-Study Program funds jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay postsecondary education expenses. The program encourages community service work and work related to the student's course of study. For more information visit www.govbenefits.gov/govbenefits/benefits/report.jhtml?bid=596