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Financial Aid

Financial Aid for Students

Guides students through the process of locating and applying for financial aid.  Prepared by the Congressional Research Service for the U.S. Senate, updated February 2014.

Getting started

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  • Start gathering information early.
  • Free information is readily available from: High school counselors College and career school financial aid offices (where you plan to attend) Local and college libraries Federal Student Aid (U.S. Department of Education) Other Internet sites (search terms student financial aid OR assistance)

Student Aid and Where It Comes From

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Basic assistance categories:

  • Financial need-based Remember that students and their parents are responsible for paying what they can-- financial aid is a supplement, not a substitute, for family resources.
  • Non need-based Factors include academic excellence, ethnic background, or organization membership. Corporations may also offer assistance to employees and children.

Federal Student Aid:

States offer residents a variety of scholarships, loans, and tuition exemptions.

Colleges and universities provide some 20% of aid, most need-based. Check university Web sites and the institution's financial aid office when you apply for admission.

Private foundations, corporations, and organizations offer scholarships or grants:  

Targeted aid for special groups

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Interested in public service?

Federal assistance programs seek to encourage people to work in geographic areas or professions where there's a particular need (such as doctors in underserved areas); encourage underrepresented groups to enter a particular profession; and provide aid in exchange for services provided (such as military service).

Aid for private K-12 education: No direct federal assistance, check with schools themselves:

Repaying your loans

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After college, the federal government has ways to help you repay your loans.

      Merete F.Gerli, CRS