FEDERAL STUDENT AID AT A GLANCE

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2020–21

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 higher education expenses (i.e., college, 

career school, or graduate school expenses).

Federal student aid covers such expenses as tuition and fees, 

room and board, books and supplies, and transportation.

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

work-study funds, and loans. Check with your school’s financial 

aid office to find out which programs the school participates in.

WHO gets federal student aid?

Some of the most basic eligibility requirements for students are 

that you must

• demonstrate financial need (for most programs—to

learn more about financial need, visit

StudentAid.gov/how-calculated);

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

• have a valid Social Security number;

• be registered with Selective Service, if you’re a male 

(you must register between the ages of 18 and 25);

• be enrolled or accepted for enrollment in an eligible 

degree or certificate program;

• be enrolled at least half-time (for most programs);

• maintain satisfactory academic progress in college, 

career school, or graduate school; and

• show you’re qualified to obtain a college or career 

school education by

 

▪	 having a high school diploma or a state-recognized 

 equivalent (for example, the General Educational 

 Development [GED] certificate);

 

 

	 ▪ completing a high school education in a home-school

 setting approved under state law; or

	 ▪ enrolling in an eligible career pathways program.

See the full list of eligibility requirements 

at StudentAid.gov/eligibility.

HOW do you apply for federal student aid?

1. To apply for federal student aid, you must complete the Free 

Application for Federal Student Aid (FAFSA®) form at

The FAFSA® form is available every Oct. 1 for the 

next school year. If you plan to attend college from July 1, 

2020–June 30, 2021, submit a 2020–21 FAFSA® form. 

Fill it out as soon as possible to meet school and state 

deadlines. Schools and states often use FAFSA® informatio

to award nonfederal aid, but their deadlines vary. 

Check with the schools that you’re interested in for their 

deadlines, and find state and federal FAFSA® deadlines at 

n 

 

fafsa.

gov.

StudentAid.gov/fafsa#deadlines. 

2. Students and parents are required to use an FSA ID (a 

username and password combination) to sign their FAFSA®

form online and to access information about their financial 

aid on U.S. Department of Education websites. Your FSA ID 

is used to confirm your identity and electronically sign your

federal student aid documents. Your FSA ID has the same 

legal status as a written signature. Don’t give your FSA ID 

to anyone or allow anyone to create an FSA ID for you. To 

create an FSA ID, visit StudentAid.gov/fsaid.

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

SAR. Your SAR contains the information reported on your 

FAFSA form and usually includes your Expected Family 

Contribution (EFC). The EFC is a number (not a dollar 

amount) used to determine your eligibility for federal 

student aid. Review your SAR information to make sure it’s 

correct. The school(s) you list on your FAFSA® form will get 

your SAR data electronically.

4. Contact the schools 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 aid offer showing the amount and types of aid (from 

all sources) the school will offer you. You can compare the 

aid offers you received and see which school is the most 

affordable once financial aid is taken into account.

Completing and submitting the FAFSA® form is free and quick, 

and it gives you access to the largest sources of financial aid 

to pay for college or career school—federal, state, and school 

sources. If you need a print-out of the FAFSA® PDF, call 

1-800-4-FED-AID (1-800-433-3243) or 334-523-2691 (TTY for 

the deaf or hard of hearing 1-800-730-8913).

HAVE QUESTIONS?

Contact or visit the following:

• StudentAid.gov

• a college financial aid office

• studentaid@ed.gov

• 1-800-4-FED-AID (1-800-433-3243) toll-free

• 1-800-730-8913 (toll-free TTY for the deaf 

 or hard of hearing)
FEDERAL STUDENT AID AT A GLANCE

Program and Type of Aid Program Information Annual Award Amount

(subject to change)

Federal Pell Grant

Grant: does not have to be repaid

For undergraduates with financial need who have not earned bachelor’s or 

professional degrees. For details and updates, visit StudentAid.gov/pell-grant.

Amounts can change annually. For 

2019–20 (July 1, 2019, to June 30, 

2020), the award amount is up to 

$6,195.

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.

For details and updates, visit StudentAid.gov/fseog.

Up to $4,000.

Teacher Education Assistance 

for College and Higher Education 

(TEACH) Grant

Grant: does not have to be repaid 

unless converted to a Direct 

Unsubsidized Loan for failure 

to carry out teaching service 

obligation as promised

For undergraduate, postbaccalaureate, and graduate students who are 

completing or plan to complete course work needed to begin a career in teaching. 

To receive a TEACH Grant, a student must agree to teach for four years in a 

high-need field at an elementary school, secondary school, or educational service 

agency that serves low-income families.

If a student doesn’t complete the teaching service requirement, all TEACH Grants 

the student received will be converted to a Direct Unsubsidized Loan that must be 

repaid, with interest. For details and updates, visit StudentAid.gov/teach.

Up to $4,000.

Iraq and Afghanistan Service Grant

Grant: does not have to be repaid

For undergraduate students who are not Pell-eligible and whose parent or 

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

of 9/11. For details and updates, visit StudentAid.gov/iraq-afghanistan.

The grant award can be equal to the 

maximum Federal Pell Grant amount

(see above) but cannot exceed your 

cost of attending school.

Federal Work-Study

Work-Study: money is earned 

through a job and doesn’t have to 

be repaid

For undergraduate and graduate students; part-time jobs can be on campus or 

off campus. Money is earned while attending school.

Your total work-study award depends on

• when you apply,

• your level of financial need, and

• your school’s funding level.

For details and updates, visit StudentAid.gov/workstudy.

No annual minimum or maximum 

amounts.

Direct Subsidized Loan

Loan: must be repaid with interest

For undergraduate students who have financial need; U.S. Department of 

Education generally pays interest while the student is in school and during certain 

other periods; a student must be enrolled at least half-time.

Interest rates for new Direct Subsidized Loans can change every year. Loans 

made to undergraduate students during the 2019–20 award year have the rate 

fixed at 4.53% for the life of the loan.

Up to $5,500 depending on grade 

level and dependency status.

For details and updates, visit

StudentAid.gov/sub-unsub.

Direct Unsubsidized Loan

Loan: must be repaid with interest

For undergraduate and graduate or professional students; the borrower is 

responsible for interest during all periods; a student must be enrolled at least halftime; financial need is not required.

For undergraduate students: Interest rates for new Direct Unsubsidized Loans can 

change every year. Loans made to undergraduate students during the 2019–20 

award year have the rate fixed at 4.53% for the life of the loan.

For graduate or professional students: Interest rates for new Direct Unsubsidized 

Loans can change every year. Loans made to graduate or professional students 

during the 2019–20 award year have the rate fixed at 6.08% for the life of the loan.

Up to $20,500 (less any subsidized 

amounts received for same period), 

depending on grade level and 

dependency status.

For details and updates, visit

StudentAid.gov/sub-unsub. 

Direct PLUS Loan

Loan: must be repaid with interest

For parents of dependent undergraduate students and for graduate or 

professional students; the borrower is responsible for interest during all periods; 

a student must be enrolled at least half-time; financial need is not required; the 

borrower must not have an adverse credit history.

Interest rates for new Direct PLUS Loans can change every year. Loans made 

during the 2019–20 award year have the rate fixed at 7.08% for the life of the 

loan.

Maximum amount is the cost of 

attendance minus any other financial

aid received.

For details and updates, visit

StudentAid.gov/plus.

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2020–21 ARE YOU LOOKING FOR MORE SOURCES OF FREE MONEY? NOVEMBER 2019

Try StudentAid.gov/scholarships for tips on where to look and for a link to a free online scholarship search.