Whether you're enrolling in college for the first time or returning to school after a period of time off, you should apply for federal student aid. Federal student aid from the U.S. Department of Education is the largest source of aid in America, providing over $150 billion in grants, work-study, and federal loans for students attending four-year colleges or universities. Borrowed Federal Aid Federal Direct Loans (also called Stafford Loans) are the department's major form of self-help aid. Loans are borrowed money that must be repaid with interest, so you should borrow only what you need. Students must be enrolled at least half-time in a degree granting program and must maintain basic eligibility criteria. Subsidized Loans are available to undergraduate students with financial need. Interest is not charged while you are in school at least half-time, during your grace period, or during deferment periods. Unsubsidized Loans are available to undergraduate, graduate, and professional students. Interest is charged during all periods, including while you are in school and during grace and deferment periods. Parent PLUS Loans are loans borrowed by parents of undergraduate students. Graduate PLUS Loans are loans borrowed by graduate or professional students. Federal Grants Grants are awards which do not need to be paid back. Federal Pell Grants are available to undergraduate students. The award amount is calculated based on Expected Family Contribution (EFC). Federal Supplemental Education Grants (FSEOG) are available to undergraduate students with exceptional financial need. TEACH Grants are awarded to students who agree to serve as a highly qualified full-time teacher in a high-need field in a public or private elementary or secondary school that serves students from low-income families. Federal Work Study The Federal Work Study program provides part-time job opportunities for students to assist with paying for education expenses. Additional Links Teacher Loan Forgiveness Return to Title IV Refund Policy
