FEDERAL STUDENT AID AT A GLANCE

Page 1 of 2 2018–19

WHAT is federal student aid?
Federal student aid comes from the federal government—
specifically, the U.S. Department of Education. It’s money that helps a student pay for higher education expenses (i.e., college, career school, or graduate school expenses).

Federal student aid covers such expenses as tuition and fees, room and board, books and supplies, and transportation.

There are three main categories of federal student aid: grants, work-study, and loans. Check with your school’s financial aid office to find out which programs the school participates in.
WHO gets federal student aid?
Every student who meets certain eligibility requirements can
get some type of federal student aid, regardless of age or family income. Some of the most basic eligibility requirements are that you must

•	demonstrate financial need (for most programs—to learn more, visit StudentAid.gov/how-calculated);
•	be a U.S. citizen or an eligible noncitizen; •	have a valid Social Security number;
•	register (if you haven’t already) with Selective Service if you’re a male between the ages of 18 and 25;
•	maintain satisfactory academic progress in college or career school;
•	sign the certification statement on the Free Application for Federal Student Aid (FAFSA®) form stating that
○	you are not in default on a federal student loan and do not owe money on a federal student grant, and

○	you will use federal student aid only for educational purposes; and

•	show you’re qualified to obtain a college or career school education by
○	having a high school diploma or a General Educational Development (GED) certificate or a state-recognized equivalent; or

○	completing a high school education in a home-school setting approved under state law; or

○	enrolling in an eligible career pathways program.

Find more details about eligibility criteria at StudentAid.gov/eligibility.

HOW do you apply for federal student aid? 1. To apply for federal student aid, you need to complete the
FAFSA® form at fafsa.gov. If you plan to attend college from July 1, 2018–June 30, 2019, you’ll be able to submit a 2018–19 FAFSA form beginning on Oct. 1, 2017. You’ll be required to report income and tax information from 2016. Schools and states often use FAFSA information to award nonfederal aid, but their deadlines vary. Check with the schools that you’re interested in for their deadlines, and find state deadlines at fafsa.gov.

2. Students and parents are required to use an FSA ID, made up of a username and password, to submit their FAFSA form online and to access sensitive information on U.S. Department of Education websites. Your FSA ID is used to confirm your identity and electronically sign your federal student aid documents. Your FSA ID has the same legal status as a written signature. Don’t give your FSA ID to anyone or allow anyone to create an FSA ID for you. To create an FSA ID, visit StudentAid.gov/fsaid.

3. After you apply, you’ll receive a Student Aid Report, or SAR. Your SAR contains the information reported on your FAFSA and usually includes your Expected Family Contribution (EFC). The EFC is a number (not a dollar amount) used
to determine your eligibility for federal student aid. Review your SAR information to make sure it’s correct. The school(s) you list on your FAFSA will get your SAR data electronically.

4. Contact the school(s) you might attend. Make sure the financial aid office at each school you’re interested in has all the information needed to determine your eligibility. If you’re eligible, each school’s financial aid office will send you an aid offer showing the amount and types of aid (from all sources) the school will offer you. You can compare the aid offers you received and see which school is the most affordable once financial aid is taken into account.

5. Completing and submitting the FAFSA form is free and quick, and it gives you access to the largest sources of financial aid to pay for college or career school—federal, state, and school sources. If you need a paper FAFSA form, request one at edpubs.gov or call toll free at 1-877-433-7827.

HAVE QUESTIONS? Contact or visit the following:

• StudentAid.gov
• a college financial aid office • studentaid@ed.gov

• 1-800-4-FED-AID (1-800-433-3243) toll-free • 1-800-730-8913 (toll-free TTY for the hard
of hearing)

FEDERAL STUDENT AID AT A GLANCE	
Program and Type of Aid
	Program Information
	Annual Award Amount (subject to change)
	
Federal Pell Grant

Grant: does not have to be repaid
	For undergraduates with financial need who have not earned bachelor’s or professional degrees; in some cases, a student enrolled in a postbaccalaureate teacher certification program may also receive a Federal Pell Grant.

A student can receive a Federal Pell Grant for no more than 12 semesters or the equivalent (roughly six years).
	Amounts can change annually. For 2018–19 (July 1, 2018, to June 30, 2019), the award amount is up to $6,095.

Visit StudentAid.gov/pell-grant for more information.
	
Federal Supplemental Educational Opportunity Grant (FSEOG)

Grant: does not have to be repaid
	For undergraduates with exceptional financial need; Federal Pell Grant recipients take priority; funds depend on availability at school.
	Up to $4,000.

Visit StudentAid.gov/fseog for more information.
	
Teacher Education Assistance for College and Higher Education (TEACH) Grant

Grant: does not have to
be repaid unless converted to a Direct Unsubsidized Loan for failure to carry out teaching service obligation as promised
	For undergraduate, postbaccalaureate, and graduate students who are completing or plan to complete course work needed to begin a career in teaching. As a condition for receiving this grant, a student must sign a TEACH Grant Agreement to Serve in which the student agrees to perform four years of qualifying teaching service and meet other requirements.
	Up to $4,000.

Visit StudentAid.gov/teach for more information.
	
Iraq and Afghanistan Service Grant

Grant: does not have to be repaid
	For students who are not Pell-eligible only because they have less financial need than is required to receive Pell funds. A student’s parent or guardian must have died as a result of military service in Iraq or Afghanistan after the events of 9/11.

A student can receive an Iraq and Afghanistan Service Grant for no more than 12 semesters or the equivalent (roughly six years).
	The grant award can be equal to the maximum Federal Pell Grant amount (see above), but cannot exceed your cost of attending school.

Visit StudentAid.gov/iraq-afghanistan for more information.
	
Federal Work-Study

Work-Study: money is earned; does not have to be repaid
	For undergraduate and graduate students; part-time jobs can be on campus or off campus. Money is earned while attending school.
	No annual minimum or maximum amounts.

Visit StudentAid.gov/workstudy for more information.
	
Direct Subsidized Loan

Loan: must be repaid with interest
	For undergraduate students who have financial need; U.S. Department of Education generally pays interest while the student is in school and during certain other periods; a student must be enrolled at least half-time. Interest rate is 4.45% for loans first disbursed on or after July 1, 2017, and before July 1, 2018, and fixed for the life of the loan. Visit StudentAid.gov/interest for more information.
	Up to $5,500 depending on grade level and dependency status.

Visit StudentAid.gov/sub-unsub for more information.
	
Direct Unsubsidized Loan

Loan: must be repaid with interest
	For undergraduate and graduate or professional students; the borrower is responsible for interest during all periods; a student must be enrolled at least half-time; financial need is not required. Interest rate is 4.45% (undergraduate) and 6% (graduate or professional) for loans first disbursed on or after July 1, 2017, and before July 1, 2018, and fixed for the life of the loan. Visit StudentAid.gov/interest for more information.
	Up to $20,500 (less any subsidized amounts received for same period), depending on grade level and dependency status.

Visit StudentAid.gov/sub-unsub for more information.
	
Direct PLUS Loan

Loan: must be repaid with interest
	For parents of dependent undergraduate students and for graduate or professional students; the borrower is responsible for interest during all periods; a student must be enrolled at least half-time; financial need is not required; the borrower must not have an adverse credit history. The interest rate is 7% for loans first disbursed on or after July 1, 2017, and before July 1, 2018, and fixed for the life of the loan. Visit StudentAid.gov/interest for more information.
	Maximum amount is the cost of attendance minus any other financial aid received.

Visit StudentAid.gov/plus for more information.
	
Federal Perkins Loan

Loan: must be repaid with interest
	For undergraduate and graduate students with exceptional financial need. Eligibility depends on the student’s financial need and availability of funds at the school. For questions on Perkins Loan eligibility, students must contact the school’s financial aid office. The interest rate is 5% and fixed for the life of the loan.
	Undergraduate students: up to $5,500; graduate and professional students: up to $8,000.

Visit StudentAid.gov/perkins for more information.

Note: Information was compiled in spring 2017; Federal Pell Grant amount updated April 2018. For updates or additional information, visit StudentAid.gov.

Page 2 of 2 2018–19

LOOKING FOR MORE SOURCES FOR FREE MONEY?	SEPTEMBER 2017 Try StudentAid.gov/scholarships for tips on where to look and for a link to a free online scholarship search.