Paying for School- Government Financial Aid

Government aid is available to college bound students who are in need of assistance. The government has established federal and state aid programs that offer billions of dollars in assistance each year.

Nearly 70% of student financial aid is provided by the U.S. Department of Education's Federal Student Aid (FSA) program. Government financial aid typically comes in the form of a grant, loan, or work-study.

A Grant is a form of funding that does not have to be repaid. The money can be used for tuition, room and board, books, and other school expenses.

Student Loans may be subsidized or unsubsidized. The interest on subsidized loans is paid by the government while the student is enrolled in school and sometimes beyond. The student pays the interest on unsubsidized loans. The type of loan that you qualify for is based upon your financial need.

A Work-Study Program allows tuition to be deferred if a student works in a particular field while attending school.

To apply for government financial aid, you must fill out a free application known as the FAFSA (Free Application for Federal Student Aid). The Department of Education will evaluate this form once it has been completed and submitted. They will then send a report to the student indicating what types of financial aid are available.