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Title IV contains nine parts that authorize a broad array of programs and provisions to assist students and their families in gaining access to and financing a postsecondary education. Programs authorized under this title are the primary sources of federal aid supporting postsecondary education. [3] The act is sectioned: A- Grants to attend ...
To apply for federal financial aid, students must first complete the Free Application for Federal Student Aid . The financial aid process has been criticized for its part in enrollment management, whereby students are awarded money not based on merit or need, but on the maximum the student families will pay. [1]
In general, the agency that authorized the aid award is responsible for reporting aid information to NSLDS. Direct Loans are reported by a Direct Loan servicer , Federal Family Education Loan Program loans are reported by their guarantor, Perkins loans are reported by schools (or their agent), and grants are reported by the U.S. Department of ...
For fiscal year 2008–2009, the 91-day Treasury bill auctioned on May 27, 2008, at 1.905% (rounded to 1.91%) was used for the calculation. [4] On May 26, 2009, the 91-day Treasury bill was auctioned at an investment rate of 0.178%. [5] On July 1, 2009, the base rate for variable rate Stafford Loans were adjusted to 0.18%.
FAFSA originally came from the 1965 Higher Education Act (HEA) by President Lyndon Johnson, which established that the United States Government would be the primary provider of financial aid for students. [21] For years the application was called Financial Aid Form (FAF), which was an optional form used by some—but not all—colleges and ...
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