We may be able to help you get the financial aid you qualify for and understand all your options. Most people are eligible for some kind of financial aid, regardless of income. Learn more about federal student aid options and how to start planning for your college payments on this page. Grants, scholarships, and student loans are just some of the financial aid options available if you qualify.
Financial aid may make the difference between not going to college at all and starting your new life. In a recent year, 57% of students obtained federal grants, loans, and other benefits, based on information from the U.S. Education Department.² That doesn’t include all the funding students find from state programs, institutional aid, and private financing.
No matter what your financial situation is, there are funding options available. CollegeAmerica’s financial planners can put together a personal financial aid report so you know all your options. If you want to discover the possibilities, call us a (800) 622-2894 today.
| Student Aid Program | Type of Aid | Program Details | Annual Max Award Limits |
|---|---|---|---|
| Federal Pell Grant | Grant: does not have to be repaid. | Available almost exclusively to undergraduates; all eligible students can receive the Federal Pell Grant amounts they qualify for. | $5,815 (2010/2011 school year). Subject to change every July 1st. |
| Federal Supplemental Educational Opportunity Grant (FSEOG) | Grant: does not have to be repaid. | For undergraduates with exceptional financial need; priority is given to Federal Pell Grant recipients; funds depend on availability at school. | Amounts vary depending on school's allocation. |
| Federal Work Study | Money is earned while attending school; does not have to be repaid. | For undergraduates with exceptional financial need; priority is given to Federal Pell Grant recipients; funds depend on availability at school. | No annual maximum. |
| Federal Perkins Loan | Loan: must be repaid. | Five percent loans for both undergraduate and graduate students; payment is owed to the school that made the loan. | $5,500 for undergraduate students; $8,000 for graduate students. |
| Direct Subsidized Loan | Loan: must be repaid. | Direct Subsidized: U.S. Department of Education pays interest while borrower is in school and during grace and deferment periods. | $3,500 to $8,500, depending on grade level. |
| Direct Unsubsidized Loan | Loan: must be repaid. | Direct Unsubsidized: Borrower is responsible for interest during life of the loan. | $4,000 to $18,500, depending on grade level (If you do not qualify for Direct Subsidized loan). |
| Federal PLUS Loan | Loan: must be repaid. | Available to parents of dependent undergraduate students. | Cost of attendance minus any other financial aid the student receives. |
