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The three most common types of aid are grants, loans, and work-study funds. Grants are a type of financial aid that does not have to be repaid. Generally, grants are for undergraduate students and the grant amount is based on need, cost of attendance, and enrollment status. Federal Pell Grants are designed for low- and middle-income ...
Federal Direct Unsubsidized Loan - Part of the Federal Direct Student Loan Program, Federal Direct Unsubsidized Loans are not need-based, meaning that nearly all students are eligible to receive them. Unlike Federal Direct Subsidized Loans, Direct Unsubsidized Loans accrue interest the moment they are applied to a student's tuition account.
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.
According to Saving for College, half of all grants come from colleges or universities, around one-quarter are Federal Pell Grants and the rest are from state grant programs or military student aid.
President Joe Biden’s federal student loan relief program provides up to $10,000 in canceled debt to individual borrowers with annual incomes below $125,000 in 2020 or 2021, and households with ...
Student loan debt in California has topped more than $148 billion, and Sacramento wants to help. A new program created by California's consumer protection agency aims to provide free, personalized ...
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