There are three types of
federal student aid: grants, work-study, and loans.
- Grants are financial aid that doesn't have to be
repaid (unless, for example, you withdraw from school
and owe a refund).
- Work-study allows you to earn money for your education.
- Loans allow you to borrow money for school. You
must repay your loans, with interest.
You apply for all three types of aid by filling out
just one application: the Free
Application for Federal Student Aid (FAFSA).
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