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Funding Your Education: The Guide to Federal Student Aid (ePub eBook)

Title:
Funding Your Education: The Guide to Federal Student Aid (ePub eBook)
Agency Publisher: 
Format:
EPUB
USA Price: 
Stock:
Digital Download
GPO Stock Number:
065-300-00002-8
ISBN:
9780160926235
Description

Free ebook download!

This guide provides a description of Federal Student Aid programs and the application process.  Readers will find information on federal student aid as a source for funding postsecondary education, and know where to go for more detailed information.

AGENCY/AUTHOR BIO

Federal Student Aid, a part of the U.S. Department of Education, is the largest provider of student financial aid in the nation.  At the office of Federal Student Aid, our 1,200 employees help make college education possible for every dedicated mind by providing more than $150 billion in federal grants, loans, and work-study funds each year to more than 15 million students paying for college or career school.  We are proud to sponsor millions of American minds pursuing their educational dream.

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Table of Contents

Table of Contents:

Federal Student Aid At a Glance............................1
Who gets federal student aid?....................................1
What is federal student aid?......................................1
What is the FAFSA?..................................................1
How do I apply for aid?..............................................1
When do I complete the FAFSA?................................1
How much aid is available?.......................................1
    Table 1. Federal Student Aid: Type of aid, eligibility,
     award amount, interest rate, and other details, by
     program.......................................................................2
Steps to Federal Student Aid.....................................4
Part I. Prepare to Pay for College..........................5
Choosing the Right School.........................................5
Estimate Your Aid: FAFSA4caster...............................5
What is the FAFSA4caster?...........................................5
Who should use FAFSA4caster?...................................5
Reducing the Cost of Education.................................5
Part II. Who Gets Aid?...........................................7
Can I Get Aid?..........................................................7
How Much Financial Aid Can I Get?...........................7
What does cost of attendance (COA) mean?................7
What’s the Expected Family Contribution (EFC)?..........7
Staying Eligible.........................................................7
Table 2: Basic Requirements.......................................8
PART III. Types of Federal Student Aid..............9
Types of Federal Student Aid.....................................9
Federal student aid includes:.......................................9
Grants.............................................................................9
What kinds of federal grants are available?...................9
Can I receive a grant if I’m enrolled less than
half-time?.....................................................................10
Work-Study....................................................................10
What is the Federal Work-Study Program?.................10
Loans.............................................................................10
William D. Ford Federal Direct Loan (Direct Loan) Program.....................................................................10
Federal Perkins Loan Program...................................10
Differences between Direct Subsidized Loans and
  Direct Unsubsidized Loans…………………………..10
What are Direct PLUS Loans?.....................................11
What is a Federal Perkins Loan?.................................11
How much can I borrow?...........................................11
What are the current interest rates?............................11
Table 3. Interest rates for Direct and Perkins loans.....11
How will I receive my loans?.......................................11
Should I accept all the aid I’m offered?.........................11
Benefits for Members of the Military................................12
Table 4. Annual and aggregate limits for Direct
Subsidized Loans and Direct Unsubsidized  Loans.....13
PART IV. FAFSA: Apply for Aid.............................15
Complete the FAFSASM........................................................15
Why should I fill out the FAFSA?.....................................15
When should I apply for federal student aid?..................15
How do I fill out the FAFSA?...........................................15
What if I need help filling out my FAFSA?.......................15
How do I sign my online application?...............................16
Do I need to fill out a FAFSA every year I apply for aid?.16
Why does dependency status matter?...............................16
What if I’m a dependent student but my parents are
divorced or separated?....................................................16
What Happens After I Submit My FAFSA Online?..............16
Where does my FAFSA information go once I submit it?16
How can I check to see whether my FAFSA has been processed?........................................................................16
Whom will I hear from, and when?....................................16
Table 5. Am I dependent or independent?........................17
What is a Student Aid Report (SAR)?...............................18
How and when will I get my SAR?....................................18
What information does a SAR contain?............................18
What am I supposed to do with my SAR?.........................18
What if I find a mistake on my SAR?.................................18
Table 6. Student Aid Report Table...........................................19
PART V. Repay Your Loans......................................21
Loan Repayment..................................................................21
Loan servicers....................................................................21
Making payments...............................................................21
Choosing a Repayment Plan..............................................21
Table 7. Repayment Plans.................................................22
Income-Driven Repayment Plans.......................................23
Loan Consolidation.............................................................24
Deferment and Forbearance..............................................24
Forgiveness, Cancelation, and Discharge.........................24
Understanding Default........................................................24
Resolving Disputes.............................................................24
Glossary..........................................................................25

Audience

Funding Your Education: The Guide to Federal Student Aid is an excellent resource for high school students, college students, adults, and parents interested in finding out about financial aid from the federal government to help pay for education expenses at an eligible college, technical school, vocational school, or graduate school. Parents of college-bound students, high school, college and graduate school students interested in funding information for post-secondary education will also find this publication essential.

Product Details

Publisher:
Federal Student Aid, U.S. Department of Education
Author:
  • Office of Federal Student Aid
Year/Pages:
2014
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