There is a program by the government called Federal student aid that helps those college students in paying for their tuition fees. The program offers three categorize of financial aid which a student can select. There are many other institutions that are also supporting this program. But first, the student must complete its own FAFSA form which is given by the school freely. This will determine if a student is qualified for such program. You can also apply online from a website which allows free application. After you have completed your FAFSA, it is time that you have to know the three categorize of financial aid. Free Fafsa application form is offered in your school. This will help you decide what type of aid you want to have. Get to know the three categorize below.
- Federal Loans. The Department of Education in USA allows the qualified college students who are involved in Direct Subsidized Loans and Direct Unsubsidized Loans. The loan shall be based on the income of the family. It has a fixed and low rate interest which does not change through the course of years. Mostly recommended than lending on private loan lenders.
- Federal Grants. Given in the form of award which helps the college students according to the financial capacity of the family and income. This won’t demand reimbursement. The awards and grants merely given to senior high school graduates and undergrads which have little income or weren’t able to manage to pay for college fees.
- Federal Work-Study. This system provides part-time position to all of the students who are prepared to do the job while studying. The career presented is based on what each one picked out subject.
You already know the three financial aid types that the government is offering to you. When you plan to apply for FAFSA, it is better to research the steps so the bigger the chance you get approved.