DO YOU NEED MONEY FOR COLLEGE?

Federal Student Aid at a Glance 2012–13

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, career 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. Information about the federal 

student aid programs for 2012–13 is on page 2 of this document.

WHO gets federal 

student aid?

Our most basic eligibility requirements are that you must

	 •	 demonstrate financial need (for most programs; to learn more,

 visit www.studentaid.ed.gov/funding), 

	 •	 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 

having a high school diploma or General Educational 

Development (GED) certificate;

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);

completing six credit hours or equivalent course 

work toward a degree or certificate;

meeting other federally approved standards your 

state establishes; or

completing 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).

 For the 2012–13 year, you can apply beginning 

Jan. 1, 2012; you have until June 30, 2013, to submit 

your FAFSA. But you need to apply as soon as you 

can! 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 number 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 2011. For updates or additional information, 

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

Have questions? Contact or 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 2011

Page 1 of 2
Note: The information in this document was compiled 

in the summer of 2011. For updates or additional information, 

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

Printed: November 2011

Federal Student Aid Programs 2012–13

Program Type of Aid Program Details Annual Amount

Federal Pell Grant Grant: does not 

have to be repaid

Available almost exclusively to undergraduates 2011–12: up to $5,550

(2012–13 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 

(accumulated) from date 

grant was disbursed (paid 

out to student)

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 due only to having less 

financial need than is required to receive Pell funds; 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 

with interest

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 

Loan

Loan: must be repaid 

with interest

For undergraduate students; 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; 6.8% rate

$3,500–$5,500, 

depending on grade level 

Direct Unsubsidized 

Loan

Loan: must be repaid 

with interest

For undergraduate and graduate students; borrower is

responsible for all interest; student must be enrolled at least

half-time; financial need is not required; 6.8% rate

$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 

with interest

For parents of dependent undergraduate students and 

for graduate and professional students; student must be

enrolled at least half-time; financial need is not required

Unsubsidized: Borrower is responsible for all interest; 7.9% rate

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.

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