Learn about the most common ways to get help paying for college and trade or career school. Options include grants, loans, scholarships, and work-study. Visit Types of Financial Aid on the Federal Student Aid website.
Undergraduate financial aid can come from a variety of federal, state, university, and private sources and may include gift aid or student employment—funds that do not have to be repaid—or student or parent loans, funds that can be borrowed to cover educational expenses and need to be repaid after graduation.
Be a U.S. citizen or eligible noncitizen with a valid Social Security number (with certain exceptions). Have a high school diploma or a GED certificate. Be enrolled or accepted for enrollment in a qualifying degree or certificate program. Maintain satisfactory academic progress while in school.
Gathering Needed Documents
Tax returns. Records of child support received. Current balances of cash, savings, and checking accounts. Net worth of investments, businesses, and farms.
Financial aid is money to help pay for college or career school. Grants, work-study, loans, and scholarships help make college or career school affordable.
Some federal loan programs are available to all students, and some are based on financial need. Other sources of financial aid include state and local governments, institutions, and private sources, as well as private loans. This indicator only discusses forms of financial aid provided directly to students.
Be a U.S. citizen, U.S. national, or eligible noncitizen. Have a valid Social Security Number. Have a high school diploma or General Education Development (GED) certificate OR demonstrate “ability to benefit” by passing an approved test. Meet satisfactory academic progress.
Undergraduate students must maintain a cumulative 2.0 grade-point average (GPA); graduate students must maintain a cumulative 3.0 GPA.
What are the main sources of financial aid? Federal Government: The federal government provides financial aid for college. Federal financial aid eligibility is based on the information you report on the FAFSA®.
Federal income tax returns; records of child support received; and your current balance of cash, savings, and checking accounts (Note: You must provide consent and approval to disclose your federal tax information to be eligible for federal student aid.) Bank statements and records of investments (if applicable)
"The rule is: free money first (scholarships and grants), then earned money (work-study), then borrowed money (federal student loans)," the US Department of Education writes on its website, adding that private loans should be the last resort.
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Three-Quarter Time (9 - 11 Semester Units) All financial aid is offered based on the expectation of full-time enrollment. If you enroll in 9 - 11 units for a semester, you are considered three-quarter time and the amount of aid you are eligible to receive from grants is required to be adjusted.