Myths and Facts About Federal 

Student Aid 

MYTH: Adult students don’t meet the age 

requirements to receive federal student aid.

FACT: There is no age limit. Almost everyone is 

eligible for some type of federal student aid.

MYTH: You need to pass a credit check to receive 

federal student aid.

FACT: No credit check is required to receive 

federal student aid, including most 

federal student loans. 

MYTH: It costs money to apply for federal 

student aid.

FACT: Applying is free. It costs nothing to apply 

for federal student aid and therefore you 

should avoid companies charging a fee to 

complete the application.

A Brief Look at Federal

Student Aid 

Federal student aid from the U.S. Department 

of Education is money to help you pay your 

education expenses at a college, career school, 

university, or graduate school. We have over 

$150 billion in federal aid available for those 

who qualify.

There are three categories of federal 

student aid:

tGrants—Student aid funds that do not have 

to be repaid.* Most federal grants are based 

on !nancial need.

tWork-study—Money earned through a job on 

or near campus while attending school.

tLoans—Borrowed money that must be repaid 

with interest. 

For more information about federal student 

aid, including eligibility requirements, visit 

www.studentaid.ed.gov/funding.

Apply for Federal Student Aid

The quickest way to apply for federal 

student aid is online at www.fafsa.gov. The 

application is called the Free Application for 

Federal Student Aid or FAFSASM. A paper 

version of the FAFSA is also available. To file 

a paper application or to check out 

alternatives to filing online, click on “FAFSA 

Filing Options” at www.fafsa.gov.

Are you an adult considering college? 

Do you need financial help?

Whether you are enrolling in college for the first time or returning to school after a break, apply for 

federal student aid. Federal student aid can help you cover your education expenses. This fact sheet 

provides information about the types of federal student aid available, how to apply, important deadlines, 

recommended do’s and don’ts, important tips, and resources for more information.

Federal Student Aid for

Adult Students

*Grants do not have to be repaid unless, for example, you are awarded 

funds incorrectly or you withdraw from school prior to the planned 

end of a term or, if you have a TEACH Grant, you do not meet the 

terms of accepting it.
Important Deadlines

Know the deadlines. If you miss a !nancial aid 

deadline (federal, state, or school), you may 

miss out on aid. 

FAFSA deadlines 

Remember this date—January 1. It’s the !rst 

day you can submit your FAFSA, and it’s the 

same every year (you will need to apply for 

federal aid every year). For example, for the 

2012–13 school year, you can submit a FAFSA 

starting Jan. 1, 2012, but cannot submit it later 

than June 30, 2013 (no exceptions to either 

date). Don’t worry if you haven’t !led your tax 

returns or received your income information by 

the application deadline, as you can estimate 

your information and make corrections later. 

State and school !nancial aid deadlines

Many schools and states use your FAFSA 

information to award state and college aid, 

which have deadlines as early as February for 

the following school year. Search for a state’s 

deadline at www.fafsa.gov, then select 

“Deadlines.” Note: Schools may use your 

FAFSA information to determine your eligibility 

for scholarships. 

Reducing Education Expenses

Here are a few ways to reduce your education 

expenses. 

tScholarships—Check with the college to 

!nd out if it offers scholarships. You can also 

search for scholarships for free at 

www.studentaid.ed.gov/scholarship. 

tTax breaks—Read IRS Publication 970, Tax 

Bene!ts for Education, to see how you might 

bene!t from federal income tax credits for 

education expenses. 

tYour employer—Ask your employer if they 

offer a tuition assistance program; some 

employers will help pay for your education. 

tCommunity college—Check into attending 

a community college. Tuition at community 

colleges can be signi!cantly lower than at fouryear colleges, especially for in-state students. 

tChoosing a program—Assess your needs 

before you apply for admission or register for 

courses. Make sure your classes !t your goals 

or count toward your degree or certi!cate. 

tPart-time enrollment—Consider part-time 

enrollment if you are having dif!culty paying 

for a full-time program, or if you have other 

work or family obligations that limit the time 

you have to attend class and study. 

Important Tips

tMilitary. If you are a member of the armed 

forces or have a family member in the service, 

go to www.studentaid.ed.gov/military to 

!nd out more about grants and loan 

repayment options for military personnel.

tReturning to school after a break. If you 

have previous college credits, check with the 

registrar’s of!ce at the school you plan to 

attend about transferring your credits.

tTransferring credits from one school to 

another. Before you pay for classes you plan 

to transfer to another school later, check with 

the registrar’s of!ce at that school to make 

sure the credits are transferable.

Did you know ...

In addition to using federal aid to pay 

for the usual expenses such as housing, 

transportation, books, tuition, and fees, you 

can use it to help pay for dependent care, 

costs related to a disability, the purchase of 

a personal computer, and more.

Note: If you !le a federal tax return and you 

are using the online application or making 

corrections online, you have the option 

to have your income and tax information 

electronically transferred from the Internal 

Revenue Service (IRS) to your FAFSA. 

2 | www.studentaid.ed.gov
tIn need of admissions testing. Most 

colleges in the U.S. require that you submit 

scores from standardized tests as part of 

your application package. For information 

about which test(s) you should take, talk 

to the admissions of!ce(s) at the college(s). 

You also may want to read “Take the Tests” at 

www.studentaid.ed.gov/preparing.

tExpecting to receive federal student 

aid. Make sure the school you plan to attend 

participates in the federal student aid programs 

if you want to use federal student aid to pay 

for your education.

tPlanning to receive credit for life 

experience. Many schools offer credit for life 

and work experiences. Check with the school to 

!nd out if this option is available.

recommended Do’s & Don’ts 

Do:

tTalk to an admissions counselor, and get to 

know the staff at the !nancial aid of!ce at 

the school you plan to attend; they can help 

you with aid applications and explain the 

types of aid available.

tLook into getting a General Educational 

Development (GED) certi!cate if you don’t 

have a high school diploma; try searching 

online for “GED certi!cate” and your 

state’s name.

tAsk employers to recommend trade schools 

that provide training in the skills you will 

need for the career you choose.

tBe an informed consumer. Make sure 

the school you are planning to attend is 

accredited and learn how to avoid being 

scammed. To get a basic understanding 

of accreditation in the United States and 

to learn more about diploma mills, go to 

www2.ed.gov/students/prep/college/

diplomamills.

tKnow the difference between federal student 

loans and private loans. Federal student loans 

offer low !xed interest rates and "exible 

repayment options, including deferment 

after you graduate or if you take a break and 

then return to school. Generally, repayment 

of a federal loan does not begin until after 

you leave school. To read more about the 

differences between federal and private loans, 

go to www.studentaid.ed.gov/aidinfo.

Don’t:

tUse all your retirement and emergency 

savings or risk losing your home with multiple 

equity loans.

tAssume the answer to your question is “no.” 

Ask questions.

tBorrow more than you need.

tMiss important deadlines.

Resources 

If you are searching for a career or a school, or 

would just like more information about careers 

and training, see the following websites: 

tFind a career that !ts your goals and your 

life; use the free Career Finder tool at 

www.studentaid.ed.gov/myfsa.

tFind out about the training you will need for a 

particular job at www.careeronestop.org.

tResearch careers and the demand for jobs in 

the Occupational Outlook Handbook at 

www.bls.gov/oco.

tUse the free College Matching Wizard at 

www.studentaid.ed.gov/myfsa to !nd 

potential schools that meet your career needs.

If you have been convicted for the possession 

or sale of illegal drugs: If the offense occurred 

while you were receiving federal student aid, you 

will be ineligible for a period of time based on 

the type and number of convictions. If you have 

been convicted of a drug-related offense, it is very 

important that you complete and submit the FAFSA 

to determine your eligibility.

If you are incarcerated: You have limited eligibility 

for federal student aid while you’re incarcerated. 

Generally, you’re eligible only for a Pell Grant and 

then only if you’re NOT incarcerated in a federal or 

state penal institution. Check with the !nancial aid 

of!ce at the school you plan on attending. Contact 

the Federal Student Aid Information Center (see the 

“Contacts” section of this fact sheet).

www.studentaid.ed.gov | 3
tLearn more about the types of schools and 

the kinds of degrees and credentials they 

offer (associate degree, bachelor’s degree, 

master’s degree, etc.); select “Choosing a 

School,” then “Types of Schools” at 

www.studentaid.ed.gov.

tFind information about tuition and net 

prices at postsecondary institutions at 

www.collegecost.ed.gov.

tFor details about education costs covered by 

federal aid, select “Choosing a School,” then 

“Understanding the Costs” at

www.studentaid.ed.gov.

tFor information about accreditation, crime 

statistics, enrollment, tuition, fees, and more 

about a school, visit the U.S. Department of 

Education’s College Navigator at 

www.nces.ed.gov/collegenavigator.

Additional information to explore 

Read the following publications, fact sheets, 

and more on our website at

www.studentaid.ed.gov/pubs.

tGet your money’s worth from your education 

by following the tips in these fact sheets: 

- “Choose a Career School Carefully” 

- “Be an Informed Consumer ... when it 

comes to federal student aid” 

tTo get more information about money for college 

and to help you determine which loans to accept 

and how much to borrow, you may want to read 

the following:

- Funding Your Education: The Guide to Federal 

Student Aid

-Your Federal Student Loans: Learn the Basics and 

Manage Your Debt

You can order print copies of many of our 

publications at www.edpubs.gov.

Contacts

Federal Student Aid Information Center 

(FSAIC)

P.O. Box 84

Washington, DC 20044-0084 

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

TTY users can call 1-800-730-8913. Callers 

in locations without access to 1-800 numbers 

may call 319-337-5665 (this is not a toll-free 

number). 

Student Aid on the Web 

www.studentaid.ed.gov

At this website, you can !nd detailed 

information on federal student aid, sources of 

nonfederal aid, contact information, and more.

National Student Loan Data System 

(NSLDS)

www.nslds.ed.gov

Use your Federal Student Aid PIN to access 

your federal student loan records.

Of!ce of Inspector General Hotline

www.ed.gov/misused

To report student aid fraud, including identity 

theft, and waste or abuse of U.S. Department 

of Education funds, contact: 

1-800-MIS-USED (1-800-647-8733)

E-mail: oig.hotline@ed.gov

Printed December 2011