Federal Financial Aid

Over the years, some myths of financial aids have emerged that have led to missed opportunities for students. Here are 8 of the most common myths associated with college financial aids.

Getting a college education is more important than it was 10 years ago, but with tuition skyrocketing, paying for college is becoming more of a struggle — especially for the growing number of students from low-income families. While student loans and grants are available, the interest rates of the former and [...]

According to FinAid, Graduate and Professional Student PLUS (Grad PLUS) Loan operates in similar fashion to the parent PLUS Loan – as a low-cost supplement to borrow. The same terms and conditions applicable to PLUS Loans for parents also apply to PLUS Loans for graduate and professional students: a fixed [...]

Parents of dependent students1 may apply for a unsubsidized Direct PLUS Loan to help pay their child’s education expenses as long as certain eligibility requirements are met. Here, the parents are responsible for repayment on the loan, not the student. A Parent PLUS Loan, often referred to as “financial aid [...]

The Direct Stafford Loan is the biggest source of low-interest loans for college-bound students who demonstrate financial need. In fact, nearly all students are eligible to receive Stafford loans regardless of credit. These loans come in two flavors: either subsidized or unsubsidized. “Subsidized” means that the interest is paid by [...]

A federal Perkins loan is a subsidized loan for undergraduate and graduate students with “exceptional” financial need – regardless of income level or credit history. Unlike the Stafford loan and Parent PLUS loan, the Federal Perkins Loan is one of the three campus-based financial aid programs – that is, the [...]

The system of students receiving financial support in the United States is a practice that dates back to 1643 and Harvard college, while as of 1944’s G.I Bill of rights military veterans were eligible to receive support and financial aid from federal funds for tuition and living costs. As time [...]

The Federal Pell Grant program is the largest need-based student aid program. In 2011 alone, the U.S Dept of Education handed out 34.8 billion in Pell Grants.1 Pell Grants are only awarded to low- and middle-income undergraduate students who have not earned a bachelor’s or professional degree. For many students, [...]

As of July 1, 2011 the Academic Competitiveness Grant has been terminated and is no longer available as of the start of the 2011-2012 school year due to government budget cuts.1 While the U.S Government has made a series of provisions to use federal funds to provide financial aid to [...]

Typically, there are four (4) types of federal student aid available to college-bound students who file the FAFSA – grants, scholarships, work-study and federal loans. Each of which is a special funding that can be used to pay for your education expenses, including tuition, books, housing, and other fees. According [...]