http://studentaid.ed.gov

The U.S. Department of Education's Federal Student Aid (FSA) programs are the largest source of student aid in America, providing nearly 70% of all student financial aid. Help is available to make education beyond high school financially possible for you or your child. The information provided here is designed to assist you in your college planning. It provides you with access to and information about the products and services that you will need throughout the financial aid process.

FSA is financial help for students enrolled in eligible programs at participating schools to cover school (a four-year or two-year public or private educational institution, a career school or trade school) expenses, including tuition and fees, room and board, books and supplies, and transportation. Most federal aid is need based. The three most common types of aid are grants, loans, and work-study.

Grants are a type of financial aid that does not have to be repaid. Generally, grants are for undergraduate students and the grant amount is based on need, cost of attendance, and enrollment status. Federal Pell Grants for the 2002-2003 school year ranged from $400 to $4,000. Federal Supplemental Educational Opportunity Grants will range from $100 to $4,000.

Loans are borrowed money that must be repaid with interest. Both undergraduate and graduate students may borrow money. Parents may also borrow to pay education expenses for dependent undergraduate students. Maximum loan amounts depend on the student's year in school.

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