Student financial aid is available from a number of sources, including the Federal Government, State governments, colleges and universities, and other organizations.
Students can receive aid from more than one source.
In 1994-95, approximately 6 million students received Stafford Loans. With a subsidized loan, the Federal Government pays the interest on the loan while the student is in school and for six months after graduation while the student is seeking employment. With an unsubsidized loan, the interest accrues while the student is in school. After graduation, the student must pay back the loan and the interest on the loan, including the interest that accrued while the student was in school. Federal PLUS Loans Federal PLUS Loans allow parents to borrow money for their children's college education.