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Financial aid is available from federal and state governments, educational institutions, and private organizations. It can be awarded through grants, loans, work-study, and scholarships. To apply for federal financial aid, students must first complete the Free Application for Federal Student Aid .
For years the application was called Financial Aid Form (FAF), which was an optional form used by some—but not all—colleges and universities. When Congress reauthorized the HEA in 1992 they created a standardized federal form for all prospective students seeking aid. [22]
In the United States, federal assistance, also known as federal aid, federal benefits, or federal funds, is defined as any federal program, project, service, or activity provided by the federal government that directly assists domestic governments, organizations, or individuals in the areas of education, health, public safety, public welfare, and public works, among others.
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On the FAFSA application there will be an option that asks if the student would like to be considered for the work-study program. This option must be checked by the applicant. This will ensure that the student is considered for the Federal Work-Study program. The applicant's financial need will be determined based on their application.
Some of these models take into account factors such as an applicant's "zip code, religion, first-choice major and extracurricular interests, as well as academic performance". Some colleges extract information from the federal FAFSA financial aid form, including names of other schools the applicant is applying to. [167]
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