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Students Financial Aid

Guides students through the process of locating and applying for financial aid. Prepared by the Congressional Research Service for the U.S. Senate, updated February 2014.

Getting Started

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Student aid and where it comes from

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Basic assistance categories:

  • Financial need-based: Remember that students and their parents are responsible for paying what they can-- financial aid is a supplement, not a substitute, for family resources.
  • Non need-based: Factors include academic excellence, ethnic background, or organization membership. Corporations may also offer assistance to employees and children.

Federal Student Aid:

States offer residents a variety of scholarships, loans, and tuition exemptions.

Colleges and universities provide some 20% of aid, most need-based. Check university Web sites and the institution's financial aid office when you apply for admission.

Private foundations, corporations, and organizations offer scholarships or grants:

Targeted aid for special groups

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Interested in public service? Federal assistance programs seek to encourage people to work in geographic areas or professions where there's a particular need (such as doctors in underserved areas); encourage underrepresented groups to enter a particular profession; and provide aid in exchange for services provided (such as military service).

Aid for private K-12 education: No direct federal assistance, check with schools themselves:

Repaying your loans

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After college, the federal government has ways to help you repay your loans.

Merete F.Gerli, CRS