DO YOU NEED MONEY FOR COLLEGE?

Federal Student Aid at a Glance 2011–12

WHAT is federal

student aid?

Federal student aid comes from the federal government—

specifically, the U.S. Department of Education. It’s money that helps

a student pay for education expenses at a postsecondary school

(e.g., college, vocational school, graduate school).

Federal student aid covers such expenses as tuition and fees,

room and board, books and supplies, and transportation.

Aid also can help pay for a computer and for dependent care.

There are three main categories of federal student aid: grants,

work-study, and loans. Check with your school to find out which

programs your school participates in.

WHO gets federal

student aid?

Our most basic eligibility requirements are that you must

• demonstrate financial need,

• be a U.S. citizen or an eligible noncitizen,

• have a valid Social Security number,

• register (if you haven’t already) with Selective Service,

if you’re a male between the ages of 18 and 25,

• maintain satisfactory academic progress in postsecondary

school, and

• show you’re qualified to obtain a postsecondary

education by

4having a high school diploma or General Educational

Development (GED) certificate;

4 passing an approved ability-to-benefit test (if you don’t

have a diploma or GED, a school can administer a test

to determine whether you can benefit from the education

offered at that school);

4completing six credit hours or equivalent course

work toward a degree or certificate;

4meeting other federally approved standards your

state establishes; or

4completing a high school education in a homeschool

setting approved under state law.

HOW do you apply for

federal student aid?

1. Complete the Free Application for Federal

Student Aid (FAFSASM).

For FAFSA on the WebSM, go to www.fafsa.gov. Using

FAFSA on the Web is faster and easier than using paper.

If you need a paper FAFSA, you can get one from

• our website at www.fafsa.gov (download a PDF),

• our ED Pubs website at www.edpubs.gov, or

• our Federal Student Aid Information Center

at 1-800-4-FED-AID (1-800-433-3243).

You can apply beginning Jan. 1, 2011; you have until

June 30, 2012, to submit your FAFSA. But you need to

apply early! Schools and states often use FAFSA information to

award nonfederal aid. Their deadlines are usually early in the year.

You can find state deadlines at FAFSA on the Web or on the paper

FAFSA. Check with the schools you’re interested in for their deadlines.

2. Review your Student Aid Report (SAR).

After you apply, you’ll receive a Student Aid Report, or SAR.

Your SAR contains the information reported on your FAFSA

and usually includes your Expected Family Contribution (EFC).

The EFC is an index used to determine your eligibility for federal

student aid. Review your SAR information and make any

corrections or changes, if necessary. The school(s) you list on

your FAFSA will get your SAR data electronically.

3. Contact the school(s) you might attend.

Make sure the financial aid office at each school you’re interested

in has all the information needed to determine your eligibility.

If you’re eligible, each school’s financial aid office will send you

an award letter showing the amount and types of aid (from all

sources) the school will offer you. You can compare award letters

from the schools to which you applied and see what aid you can

receive from each school.

More than $150 billion available in federal aid for students who qualify

Note: The information in this document was compiled

in the summer of 2010. For updates or additional information,

visit www.studentaid.ed.gov or phone 1-800-4-FED-AID.

Have questions? Contact/visit the following:

• 1-800-4-FED-AID (1-800-433-3243)

• 1-800-730-8913 (TTY for the hearing impaired)

• studentaid@ed.gov

• www.studentaid.ed.gov

• a college financial aid office

Printed: November 2010
Note: The information in this document was compiled

in the summer of 2010. For updates or additional information,

visit www.studentaid.ed.gov or phone 1-800-4-FED-AID.

Printed: November 2010

Federal Student Aid Programs 2011–12

Program Type of Aid Program Details Annual Amount

Federal Pell Grant Grant: does not

have to be repaid

Available almost exclusively to undergraduates; student

may receive up to two consecutive maximum awards in a year

if attending school year-round

2010–11: up to $5,550

(2011–12 amount not

determined as of this

document's publication date.)

Federal

Supplemental

Educational

Opportunity

Grant (FSEOG)

Grant: does not

have to be repaid

For undergraduates with exceptional financial need;

Federal Pell Grant recipients take priority; funds depend

on availability at school

$100–$4,000

Teacher Education

Assistance for

College and

Higher Education

(TEACH) Grant

Grant: does not have to be

repaid unless student fails to

carry out service obligation,

in which case student must

repay TEACH Grant as Direct

Unsubsidized Loan with

interest accrued from date

grant was disbursed

For undergraduate, postbaccalaureate, and graduate students

who are or will be taking course work necessary to become

elementary or secondary teacher; recipient must sign Agreement

to Serve saying he or she will teach full-time in designated

teacher shortage area for four complete years (within eight

years of completing academic program) at elementary or

secondary school serving children from low-income families

Up to $4,000 a year;

total amount may

not exceed $16,000

Graduate student:

Total amount may

not exceed $8,000

Iraq and

Afghanistan

Service Grant

Grant: does not

have to be repaid

For students who are not Pell-eligible; whose parent or guardian

died as a result of military service in Iraq or Afghanistan after

the events of 9/11; and who, at the time of the parent's or

guardian's death, were less than 24 years old or were enrolled

at least part-time at an institution of higher education

Maximum is same

as Pell maximum;

payment adjusted for

less-than-full-time study

Federal

Work-Study

Money earned while

attending school; does

not have to be repaid

For undergraduate and graduate students; jobs can be on

campus or off campus; students are paid at least federal

minimum wage

No annual minimum or

maximum amounts

Federal

Perkins Loan

Loan: must be repaid For undergraduate and graduate students; must be

repaid to school that made the loan; 5% rate

Undergraduate students:

up to $5,500; graduate

and professional students:

up to $8,000

Direct Subsidized

Stafford Loan

Loan: must be repaid Subsidized: U.S. Department of Education pays interest

while borrower is in school and during grace and deferment

periods; student must be attending at least half-time and have

financial need; fixed rate (set annually) for new borrowers

$3,500–$8,500,

depending on grade level

Direct Unsubsidized

Stafford Loan

Loan: must be repaid Unsubsidized: Borrower responsible for all interest; student

must be at least half-time; financial need not required; fixed

rate (set annually) for new borrowers

$5,500–$20,500

(less any subsidized amounts

received for same period),

depending on grade level

and dependency status

Direct PLUS Loan Loan: must be repaid For parents of dependent undergraduate students and

for graduate and professional students; students must be

enrolled at least half-time; financial need not required

Unsubsidized: Borrower responsible for all interest

Maximum amount is cost of

attendance minus any other

financial aid student receives;

no minimum amount

Looking for more sources of free money?

Try www.studentaid.ed.gov/scholarship for a free online scholarship search.

U.S. GOVERNMENT PRINTING OFFICE: 2010—366–587