Even students who are not financially needy enough to qualify for grants or federally subsidized loans are eligible for loans at interest rates lower than those offered by commercial lenders.
Students can file electronically or on a paper application.
Students are also encouraged to talk to the financial aid directors at the schools they hope to attend to learn about financial aid packages and other sources of assistance. Electronic filing is faster, less error-prone. An estimated 12 to 14 percent of paper applications are returned for errors, adding time to the application process. Reapplying for aid is simpler than ever. For renewal filing over the web, students are given an electronic access code or PIN that serves as the student's signature.