The program is used, along with other programs, to help meet that need. Work must be performed before the benefits are paid and may not be used to apply to expenses at the end of a semester. Students must apply for the Pell Grant before consideration for this program. Repayment is required and begins nine months after one ceases to be enrolled as at least a half-time student. Funds are limited.
Conditions are subject to change by Congressional action.
A Federal Stafford Loan is a low-interest, educational loan authorized by the Federal and State governments to help students meet the costs of higher education. A subsidized Federal Stafford Loan is a need-based loan, which means the amount a student is eligible to receive is based on financial need. The federal government pays the interest that accrues on a subsidized Federal Stafford Loan while the student is attending school at least half-time, during a six months' grace period, and during deferment periods. An unsubsidized Federal Stafford Loan is a non-need based loan, which means the amount a student is eligible to receive is not based on financial need. If one receives an unsubsidized Federal Stafford Loan, one will be responsible for all interest that accrues on the loan from the date of the disbursement forward.