The key element of Stafford loans is that the government pays the interest on subsidized loans while the student is enrolled in college. The provisions of unsubsidized loans are the same except that the student pays the interest while enrolled in school rather than the government. The maximum amount is limited to the total cost of education each year minus the aid the student received. Applications are made through any participating bank or lending agency. These programs allow students to work part-time during the school year.
Jobs are usually on campus and the salary is used to pay for tuition or other expenses.
Work-study can be funded by the federal government or the endowment of the college or university. An excellent publication which describes in detail all of the above programs with comprehensive timetables, charts, a glossary of terms, etc. is Funding Your Education, published by the U.S. Department of Education. All rights reserved. Information in this document is subject to change without notice. Other products and companies referred to herein are trademarks or registered trademarks of their respective companies or mark holders.