Federal Student Aid Summary Chart
What is federal student aid?
Steps to Federal Student Aid
Who gets federal student aid?
How do I apply for federal student aid?
FAFSA4caster
Process Summary Chart
A
Why should I invest in an education? Can’t I get a job now?
Earnings and Unemployment Rate for People 25 Years and Over
Income and Education Level
What questions should I ask when considering a college or career school?
Where can I find this information?
Take the next steps.
What additional information should I get from a school?
Find out about financial aid at the school.
Find out the school’s refund policy.
Find out the school’s return-of-aid policy.
Find out the school’s completion and transfer-out rates.
What can I do with MyFSA account?
What is FAFSA4caster?
Who should use FAFSA4caster?
How do I get started?
What information does FAFSA4caster provide?
Lower-cost schools
State Higher Education Agency
Work or volunteer opportunities
Tax breaks
Hope or Lifetime Learning tax credit
Basic requirements
Financial need
Education requirements
Legal and other requirements
Match requirements
Financial need and Expected Family Contribution (EFC)
Unusual family circumstances
There are three types of federal student aid
There are five types of federal student aid grants
What is a Federal Pell Grant?
What is a Federal Supplemental Educational Opportunity Grant (FSEOG)?
What’s the difference between Federal Pell Grants and FSEOGs?
What is an Academic Competitiveness Grant (ACG)?
What is a National Science and Mathematics Access to Retain Talent Grant (National SMART Grant)?
What is the difference between the ACG and the National SMART Grant?
What is a TEACH Grant?
Who can get this grant?
How much can I get?
How do I apply?
What is an Agreement to Serve?
What are high-need fields?
What is considered a low-income elementary or secondary school?
Who is considered a highly qualified teacher?
What if I don’t fulfill my Agreement to Serve?
How much financial aid can I get?
How will I be paid?
How often will I receive funds?
Can I receive a grant if I’m enrolled less han half-time?
What is the Federal Work-Study (FWS) Program?
What kinds of jobs are there?
Are Federal Work-Study jobs on campus or off campus?
How much can I earn?
How will I be paid?
Can I work as many hours as I want?
Types of loans
William D. Ford Federal Direct Loan (Direct Loan) Program
Federal Family Education Loan (FFEL) Program
What’s the interest rate on these loans?
Interest Rate Reductions for Subsidized Stafford Loans
What are the differences in these loan programs?
How do I apply for a Perkins or Stafford Loan?
Student Loan Comparison Chart
How much can I borrow?
Other than interest, are there any fees or charges required to get these loans?
How will I be paid?
Maximum Annual Loan Limits Chart—Subsidized and Unsubsidized Direct and FFEL Stafford Loans
Can I cancel?
How do parents and graduate and professional degree students apply for a PLUS Loan?
What are the eligibility requirements for PLUS Loans?
Are there any other requirements?
Do we need to find a lender?
How much can a parent or graduate and professional degree student borrow?
Who receives the loan money—the parent or the student?
Can a borrower cancel a PLUS Loan?
Other than interest, are there any fees or charges to get a PLUS Loan?
Is there a grace period?
Stafford and PLUS Loan Summary
Other Financial Aid Sources
Financial aid office
State Higher Education Agency
AmeriCorps
Robert C. Byrd Honors Scholarship Program (Byrd Program)
Public libraries and the Internet
Businesses and labor organizations
Organizations, foundations, etc
U.S. Armed Forces
U.S. Department of Veterans Affairs
Internal Revenue Service (IRS)
college.gov
www.students.gov
Scholarship scams
What about scholarship search services?
How can I tell if these search services are scams?
Identity Theft
What is identity theft?
How can this happen?
What happens if someone steals my identity and gets a student loan in my name?
How can I avoid identity theft?
B
What is a Federal Student Aid PIN and what is it used for?
Should I get a PIN if I’m not applying online?
How and when should I get a PIN?
How do I sign my application?
Do I get a pin automatically?
What if I have questions about the PIN?
Can I get a PIN from the Federal Student Aid Information Center?
What information do I need to complete a FAFSA?
Process for new applicants
Can I apply for aid online?
Why should I apply online?
What if I decide I want a paper FAFSA?
What happens after I mail the FAFSA for processing?
Dependency Status
What if you are considered a dependent student but have no contact with your parents?
What if you are a dependent student, but your parents are divorced or separated?
Do I report stepparents’ information?
Do I need to fill out a FAFSA every year I apply for aid?
What if I need help filling out my FAFSA?
How do the schools I’m interested in attending get my FAFSA information?
What if I want to add or change schools later?
After you apply for federal student aid you’ll receive your FAFSA results in your SAR
Sample E-mail
What do I do with my SAR?
If you need to make corrections to your SAR
How do I find out if I’m eligible for federal student aid and how much I’ll receive?
Your SAR will look like this
C
Think about how much you’re borrowing
Signing a promissory note means you agree to repay the loan
Make payments regardless of receiving billing notices
Continue to pay while waiting for deferment or forbearance approval
Notify your lender or loan servicing agency when you ...
Receive entrance and exit counseling
What you need to know about your loan
Before you leave school
Grace period
Loan repayment schedule
Sale of loan
When do I start paying back my student loans?
How much time do I have to repay my student loans?
When do parents and graduate and professional degree students begin repaying a PLUS Loan?
How much will I have to repay and how often do I make payments?
Do I have repayment options?
Examples of Typical Direct and FFEL Stafford Loan Repayments
Examples of Typical Perkins Loan Repayments Chart
How do parents or graduate and professional degree students repay their PLUS Loan?
Are there tax incentives while paying back student loans?
What is deferment?
How do I qualify for a deferment?
Can my parents or graduate and professional degree students defer repayment of their PLUS Loan?
Is there deferment for active military service?
Active Duty Student Deferment
Economic Hardship Deferment
What is forbearance?
Loan Deferment Summary Chart
Applying for deferment or forbearance
Are there circumstances when I must be granted a mandatory forbearance?
What is loan consolidation?
What kinds of loans can be consolidated?
When can I consolidate my loans?
How do I get a consolidation loan and where can I get more information?
What’s the interest rate on a consolidation loan?
Are there any disadvantages to getting a consolidation loan?
Is it ever possible to have my federal student loan discharged or canceled?
What qualifies my loan for discharge?
What qualifies my loan for cancellation?
What is loan forgiveness for public service employees?
What is a public service job?
How do I qualify for this loan forgiveness?
How do I find out if I can get a loan discharge or cancellation?
Perkins Loan Discharge and Cancellation Summary Chart
Stafford and PLUS Loan Discharge and Cancellation Summary Chart
|
