State and Federal sources of financial aid funds
The federal government provides $33 billion in grant aid to post-secondary education students annually. The aid comes in several forms:
Need-based federal aid:
- Federal Pell Grants
- Federal Subsidized Stafford Loans
- Federal Supplemental Educational Opportunity Grant
- Federal Work Study
- Perkins Loans
- The Academic Competitiveness Grant
- National SMART Grant (National Science & Mathematics Access to Retain Talent Grant)
Financing options:
- Federal PLUS loans (also known as Direct Plus Loans)
- Federal Unsubsidized Stafford Loans (Also known as Federal Direct Unsubsidized Loans)
- Other parent loans
- Alternative Student Loans
The Department's Federal student aid programs are the largest source of student aid in America. These programs provide more than $80 billion a year in grants, loans, and work-study assistance. In order to receive a grant from the federal program, your college must qualify to administer these grants. Check with your school’s financial aid department to be sure your school is a qualified participant.
