Sources include the federal government, states, colleges, and private organizations. Most scholarships or fellowships have conditions of qualification and fulfillment. The award may be provided by private sources through the school or be part of the Federal Work-Study program, which encourages community service or work related to the student's major studies. Federal loans are the most common source of education loans and, with the exception of Stafford Loans, are based on financial need. Federal loans frequently carry low interest rates and attractive repayment conditions such as not charging interest while students are in school.
Most students qualify for some kind of financial assistance.
Be enrolled in an eligible degree or certificate program and be making satisfactory progress. Be a U.S. citizen or eligible noncitizen. Have a valid Social Security number. Register with the Selective Service, if applicable. Most financial aid is awarded for a specific period, usually a semester or an academic year.