QuestionFinancial aid can come from the government or from an organization. What are the loans and grants that I can get from the federal government?
There are a few staples of federal aid for students. some of these are:
- The Pell Grant - This is the biggest federal grant available, and it's based on your financial need. You must attend a school which participates in the program and maintain satisfactory grades, as this grant can be revoked if you do not.
- The Stafford Loan - This loan breaks down into two types: subsidized and unsubsidized, and is also the most commonly received type of student loan. Financial need must be demonstrated in order to receive Stafford Loans.
- Federal Family Education Loan Program (FFELP) - yet another loan through the federal government, this loan is “federally guaranteed" to students who need it.