Funding Your Education

This guide provides a description of Federal Student Aid programs and the application process. Readers will find information on federal student aid as a source for funding postsecondary education, and know where to go for more detailed information. Funding Your Education: The Guide to Federal Student Aid speaks to high school students, college students, adults, and parents interested in finding out about financial aid from the federal government to help pay for education expenses at an eligible college, technical school, vocational school, or graduate school.

This section is a quick reference to federal student aid programs from the office of Federal Student Aid at the U.S. Department of Education. The rest of the publication provides more details on what you need to know as you go through the federal student aid process. Who gets federal student aid? Every student, who meets certain eligibility requirements, can get some type of financial aid regardless of age or family income. What is federal student aid? It's financial aid from the federal government to help you pay for education expenses at an eligible college, technical school, vocational school, or graduate school. There are three categories of federal student aid: grants, work-study, and loans. What is the FAFSA? It's the Free Application for Federal Student Aid (FAFSASM), which you need to complete to receive federal student aid. How do I apply for aid? Complete the FAFSA, online or in print. The simplified online application is available at www.fafsa.gov. When do I complete the FAFSA? Apply as soon as possible after Jan. 1 of the year you plan on attending college. How much aid is available? More than $150 billion of aid is available every year to students to help cover tuition and fees, room and board, books and supplies, transportation, and other education-related expenses.

Ultimately, the authors recommend that states create new ways of helping colleges with many at-risk students, define performance indicators and measures better tailored to institutional missions, and improve the capacity of colleges to engage in organizational learning.