Guide to Financial Aid

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There are four types of student financial aid available. Learn what they are, who they're for and where they come from in 14 slides.

Published in: Business, Economy & Finance
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Guide to Financial Aid

  1. 1. Guide to Financial Aid
  2. 2. Financial Aid helps students pay for college or a career school. It comes in the form of Grants, Scholarships, Loans and Work- Study programs.
  3. 3. FREE MONEY
  4. 4. Grants • Awarded based on a student’s financial need, such as low income Scholarships • Awarded based on a student’s financial need or merit, such as exceptional academic achievement or a special talent Free Money Financial Aid that does not have to be repaid
  5. 5. • There are 4 Federal Grants designed to support students attending four-year universities, community colleges and career schools. Grants
  6. 6. FEDERAL PELL GRANT • Designed for anyone who qualifies • Designed for students with exceptional financial need FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT FEDERAL TEACH GRANT • Designed for students wishing to teach in a high need field for a low income area • Designed for students who lost a parent overseas and were enrolled or under the age 24 at the time of their parent’s death FEDERAL IRAQ & AFGHANISTAN SERVICE GRANT Federal Grants
  7. 7. • There are thousands of Scholarships, which can come from Schools, Employers, Individuals, Private Companies, Nonprofit Organizations, Communities and Religious Groups. Scholarships
  8. 8. EARNED & BORROWED MONEY
  9. 9. Loans • Allows students to pay for college with borrowed money Work-Study • Allows students to pay for college with earned money Earned & Borrowed Money
  10. 10. Private Loans • Distributed by private lenders, such as banks, credit unions, state agencies and schools Federal Loans • Distributed by the Federal Government through either the Perkins Loan or William D. Ford Direct Loan Program Loans Financial Aid that must be paid back with interest
  11. 11. Federal Perkins Loan • Offers financial assistance to students with exceptional need William D. Ford Direct Loan Program • Offers 4 Direct Loan options Federal Loan Programs
  12. 12. William D. Ford Direct Loan Program Direct Subsidized Loans • Available to undergraduate students demonstrating financial need Direct Unsubsidized Loans • Available to undergraduate, graduate and professional students regardless of financial need Direct PLUS Loans • Available to graduate, professional and parents of dependent undergraduate students Direct Consolidation Loans • Available to federal loan recipients and allows any existing loans to be consolidated into a single loan
  13. 13. • Work-study programs offer part-time work to undergraduate, graduate and professional students with financial need. Work-Study Financial Aid that is earned working on or off campus
  14. 14. •For more information VISIT approvedcolleges.com

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