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An education loan is a loan taken out by the student (or parent) to pay for educational expenses. Unlike scholarships and grants, this money must be repaid with interest. Educational loan options include federal student loans, federal parent loans, private loans, and consolidation loans.
Each year Federal Student Aid's staff processes approximately 22 million FAFSAs. Additionally, Federal Student Aid is responsible for enforcing the financial aid rules and regulations required by the Higher Education Act of 1965 and the U.S. Department of Education and managing the outstanding federal student loan portfolio.
A scholarship is defined as a grant or payment made to support a student's education, awarded on the basis of academic or other distinction. [1] "Scholarship" has a different meaning in the United States than it does in other countries, with the partial exception of Canada. Outside the U.S., scholarship is any type of monetary award to fund ...
The Ronald E. McNair Post-Baccalaureate Achievement Program, also referred to as the McNair Scholars Program, is a United States Department of Education initiative with the goal of increasing "attainment of PhD degrees by students from underrepresented segments of society," including first-generation low-income individuals and members from racial and ethnic groups historically underrepresented ...
The Free Application for Federal Student Aid (FAFSA) is a form completed by current and prospective college students (undergraduate and graduate) in the United States to determine their eligibility for student financial aid.
Claiborne Pell. The Higher Education Amendments of 1972 reauthorized the three campus-based programs, leaving the Economic Opportunity Grant Program with the same name, but renaming the two others: the National Defense Student Loan Program became the National Direct Student Loan or Federal Direct Student Loan Program and the Federal Supplemental Educational Opportunity Grant Program ().
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