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Unlike loans, grants don’t have to be paid back, and there’s no limit to how many you can get. Often, grants and scholarships are terms used interchangeably, since they both award free money.
Federal Perkins Loan (Perkins Loan) Program: This is a school-based loan program for eligible students with exceptional financial need. Students may qualify for a Perkins Loan of up to $8,000 each year depending on financial need, the amount of other aid received, and the availability of funds at the school.
Federal Student Aid (FSA), an office of the U.S. Department of Education, is the largest provider of student financial aid in the United States. Federal Student Aid provides student financial assistance in the form of grants, loans, and work-study funds.
The U.S. Department of Education uses a standard formula to evaluate financial information reported on the Free Application for Federal Student Aid (FAFSA) for determining the student's Expected Family Contribution (EFC). [6] Pell Grants were created by the Higher Education Act of 1965. These federal funded grants are not loans, and need not be ...
The Free Application for Federal Student Aid (FAFSA) must be submitted for each year of enrollment. One form covers both semesters of the school year with payments issued every quarter or semester.
K-12 federal funds, such as Title I money which supports low-income school districts, were also on the list of programs for review, according to the agency instructions.
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