Types of Aid and Eligibility | Federal Student Aid Aid Toolkit (2024)

We recommend that you and your students visit StudentAid.gov/types for information on financial aid from the federal government and from states, schools, and private sources. Eligibility criteria for federal student aid are described at StudentAid.gov/eligibility.

Federal Student Aid
State Financial Aid
Financial Aid From the College
Finding Scholarships
Avoiding Financial Aid Scams
Eligibility for Federal Student Aid

Federal Student Aid

Aid is available from the federal government in the form of grants, work-study funds, and loans. Students use the Free Application for Federal Student Aid (FAFSA®) form to apply. Besides referring your students to the information at StudentAid.gov/types to learn about federal aid, you also can recommend they visit StudentAid.gov/resources for fact sheets, videos, and infographics. Meanwhile, you can access those items and more here on the Financial Aid Toolkit. We've provided a feature to help you search financial aid tools and resources that you can use in advising students about aid.

Do You Need Money for College or Career/Trade School?(Result Type: PDF)
Description:Publication providing students with information on applying for aid, types of federal student aid, and eligibility. [404 KB]
Resource Type:Handout
AlsoAvailable in:Text Version(Result Type: General),Spanish(Result Type: PDF),Text Version - Spanish(Result Type: General)

top

State Financial Aid

To find out about state financial aid for college, try www.ed.gov/sgt to find your state agency's website.

Talking point: Often, students and parents comment that they don't qualify for federal student aid or they qualify for too small an amount. State aid could help fill in some of the gaps.

top

Financial Aid From the College

Many colleges offer financial aid from their own funds. Direct your students to visit a school's financial aid website for information about aid available at that school. For students with an interest in a particular area of study, encourage them to inquire about any available scholarships in that area or department.

Talking points:

  • When a student submits the FAFSA® form, they are automatically applying for aid from not only the federal government but also the state and—in many cases—the college(s) listed on the FAFSA form.
  • Students should be sure to meet any financial aid deadlines the school may have.

top

Finding Scholarships

One of the most frequent questions we hear from students at college fairs or financial aid information events is, "How do I get money to help me pay for college?" While the FAFSA form is an application for certain grants and scholarships, not all students will qualify. That's why we've provided information to help them find and apply for scholarships at StudentAid.gov/scholarships.

Talking points:

  • Students should spend the summer between their junior and senior years of high school looking for scholarships, determining which ones are right for them, noting application deadlines, and submitting any applications that they possibly can at that point. They'll have plenty to keep them busy during fall of senior year, so getting a head start will make a difference in levels of stress and anxiety.
  • As a student assesses which online scholarship search to use, they should consider whether it is free and, if it requests personal information from the student, they should carefully read its privacy policy.

U.S. Department of Labor Scholarship Finder(Result Type: General)
Description:Free scholarship search tool for students finding scholarships along with information on how to apply.
Resource Type:Web Resource or Tool

top

Avoiding Financial Aid Scams

Financial aid scams are less prevalent now than they were 10 or 15 years ago, but you'll still want to remind students to keep their eyes open as they look for financial aid for college. Refer them to StudentAid.gov/scams for tips.

Talking points:

  • You can find plenty of sources of financial aid without paying anyone for help or paying an application fee for the aid.
  • The first F in "FAFSA" stands for "Free."

top

Eligibility for Federal Student Aid

Eligibility for federal student aid is based on financial need and on several other factors such as U.S. citizenship or eligible noncitizenship, enrollment in an eligible program, satisfactory academic progress in college, and more. The full list of our basic eligibility criteria is on our student site.

Tip: A quick URL to share with your students for information on federal student aid eligibility criteria is StudentAid.gov/eligibility.

Talking point: There is no such thing as an income cut-off for federal student aid. Eligibility is based on a number of factors, including a complicated mathematical formula. No student should assume that they won't qualify for federal aid. Filling out the FAFSA form is the only way to find out. And please remind your students that the FAFSA form is also an application for state and school aid—and many schools won't consider a student for their aid (even merit-based aid) unless the student submits a FAFSA form.

15 Myths We're Busting About the FAFSA® Process article(Result Type: General)
Description:Article for students debunking common myths about the 2023–24 FAFSA form and process.
Resource Type:Article or Blog Post

top

Types of Aid and Eligibility | Federal Student Aid 
	Aid Toolkit (2024)

FAQs

What are the 4 types of student aid? ›

Options include grants, loans, scholarships, and work-study. Visit Types of Financial Aid on the Federal Student Aid website. You will learn about funding you can get from the government, your school, and private sources including: Grants.

What are the three types of federal student aid group of answer choices? ›

Types of Financial Aid: Loans, Grants, and Work-Study Programs.

What is used to determine eligibility for student financial aid? ›

The FAFSA is used to determine eligibility for federal, state, and institutional aid.

What 4 factors determine how much aid a student will receive? ›

The following are used to determine your eligibility: your Expected Family Contribution (EFC), your year in school, your enrollment status, and your cost of attendance. Learn more about the aid disbursem*nt process.

What's the difference between unsubsidized and subsidized student loans? ›

Direct Subsidized Loans: You won't be charged interest while you're enrolled in school or during your six-month grace period. Direct Unsubsidized Loans: Interest starts accumulating from the date of your first loan disbursem*nt (when you receive the funds from your school).

Is FAFSA the same as Pell Grant? ›

A Federal Pell Grant, unlike a loan, does not have to be repaid, except under certain circ*mstances. To qualify for a Pell Grant, a student must demonstrate financial need through the Free Application for Federal Student Financial Aid (FAFSA®) form.

What is the most common type of financial aid? ›

Types of Financial Aid for Students
  1. Scholarships. By far and away the most common form of student financial aid, scholarships are essentially gift money that does not have to be paid back. ...
  2. Grants. ...
  3. Loans. ...
  4. Work Study.
Jun 29, 2023

What are three types of government aid? ›

Some of the major federal, state, and local social welfare programs are: Supplemental Security Income (SSI) Supplemental Nutrition Assistance Program (SNAP) Special Supplemental Nutrition Program for Women, Infants, and Children (WIC)

What type of federal funding is free? ›

Federal grants

Grants, like scholarships, are sometimes called gift aid because they don't need to be repaid. Grants are usually distributed based on financial need rather than merit.

How is student loan eligibility determined? ›

Your eligibility depends on your Expected Family Contribution, year in school, enrollment status, and the cost of attendance at the school you'll be attending. Learn more about how your EFC is calculated.

What is the highest income to qualify for financial aid? ›

There is no income cut-off to qualify for federal student aid. Many factors—such as the size of your family and your year in school—are considered.

How can I maximize my financial aid eligibility? ›

Basic Principles
  1. Reducing income during the base years.
  2. Reducing “included” assets. ...
  3. Increasing the number of family members enrolled in college and pursuing a degree or certificate at the same time.

What is the most FAFSA will pay? ›

How much can you get from FAFSA?
Maximum amount (2024-25)
Direct Subsidized Loan$3,500 to $5,500 per year, depending on year in school
Direct Unsubsidized Loan$5,500 to $20,500 per year, depending on year in school and dependency status
Direct PLUS LoanTotal cost of attendance (net of other financial assistance received)
4 more rows
Jul 25, 2024

What factors regarding your income are considered when determining eligibility for financial aid? ›

Eligibility for Need-Based Aid

Important factors include the cost of college, family size, special circ*mstances that affect the family's ability to pay for college, and whether or not the student is a dependent student. Student income and assets are assessed more heavily than parent income and assets.

How do I see how much financial aid I will get? ›

Log in to StudentAid.gov using your account username and password. Select your processed FAFSA submission. Select “View FAFSA Submission Summary.” Select the “Eligibility Overview” tab.

What is a type 4 student loan? ›

If you're a Scottish student who started an undergraduate or postgraduate course anywhere in the UK on or after 1 September 1998, you'll be on repayment Plan 4. This means you'll pay 9% of the income you earn over the threshold to the Student Loan Company (SLC).

What's the difference between need and merit-based aid? ›

Merit-based aid offers financial support based on a student's academic achievements. Need-based aid provides funds for students based on their level of financial need. Students may receive both types of aid to fund their postsecondary studies.

What are the four primary sources of financial aid? ›

Financial aid is provided by four basic sources: the federal government, state government, the colleges and universities themselves, and the private sector (such as foundations, corporations and banks).

What are 3 forms of government financial aid? ›

Grants: Financial aid that generally doesn't have to be repaid. Loans: Borrowed money for college or career school; your loans must be repaid with interest. Work-Study: A federal work program through which undergraduates and graduate students at participating schools earn money to help pay for school.

References

Top Articles
Starbucks cheese danish recipe
Maple Bacon Sweet Potato Hash Recipe
Benchmark Physical Therapy Jobs
Jody Plauche Wiki
Jimmy Johns Delivery Hours
Renfield Showtimes Near Amc Kent Station 14
Behind the Screens: Understanding the Wisconsin Volleyball Team Leak
Rickrolling Link Generator
St Vrain Chain Gang
What Does Sybau Mean
Oil filter Cross Reference - Equivafiltros
Warren County Skyward
Nycers Pay Schedule
Kutty Movie Net
Nissan 300Zx For Sale Craigslist
Trestle Table | John Lewis & Partners
Iapd Lookup
Craigslist Apartments In Philly
Www Craigslist Antelope Valley
Cvs Newr.me
Nope 123Movies Full
Animal Eye Clinic Huntersville Nc
Suman Gharti on LinkedIn: Yashoda [2022] Hindi Dubbed Full Movie In 4K UHD | Samantha, Unni…
Adams County 911 Live Incident
Truecarcin
Christian Hogue co*ck
Autotrader Ford Ranger
Python Regex Space
Emerge Ortho Kronos
Aogf Causes.benevity
Twitter claims there’s “no evidence” 200 million leaked usernames and email addresses came from an exploit of its systems
Kahoot Spamming Bots
My Meet Scores Online Gymnastics
Harvestella Farming Guide | Locations & Crop Prices | TechRaptor
Https://Gw.mybeacon.its.state.nc.us/App
Hose Woe Crossword Clue
Ixl Ld Northeast
Hinterlands Landmarks
Alloyed Trident Spear
Charter Spectrum Store
What Was D-Day Weegy
Alineaciones De Rcd Espanyol Contra Celta De Vigo
Craigslist Philly Free Stuff
Degreeworks Sbu
Splunk Stats Count By Hour
Luoghi MA.R.C.I.: Norma e Classificazione
NCCAC
Pinellas Fire Active Calls
Gotham Chess Twitter
‘A Knights Tale’ Turns 20: Secrets Behind Heath Ledger’s Royal Rock Flick
7-11 Paystub Portal
Randstad Westside
Latest Posts
Article information

Author: Delena Feil

Last Updated:

Views: 5988

Rating: 4.4 / 5 (45 voted)

Reviews: 84% of readers found this page helpful

Author information

Name: Delena Feil

Birthday: 1998-08-29

Address: 747 Lubowitz Run, Sidmouth, HI 90646-5543

Phone: +99513241752844

Job: Design Supervisor

Hobby: Digital arts, Lacemaking, Air sports, Running, Scouting, Shooting, Puzzles

Introduction: My name is Delena Feil, I am a clean, splendid, calm, fancy, jolly, bright, faithful person who loves writing and wants to share my knowledge and understanding with you.