What are the different types of government financial assistance?
In the United States, there are several types of government financial aid available to students who are engaged in higher education. Government financial assistance is provided to students through grants or loans. Grants are gifts and may not be repaid while loans will have to be paid to the government. In order to be considered any kind of government financial assistance, it is necessary to fill in a free request for federal student assistance, which is commonly referred to as FAFSA. After evaluating the student's needs by completing FAFSA, a grant Pell, which is the basis of government financial assistance to students, can be granted. Once it is determined whether the student is the recipient of the Pell grant, other forms of help can be added.
PELL GRANCE T with extreme need are eligible to obtain a federal grant of additional educational opportunities (FSEOG) that will help balance the cost of universityeducation. Other grants with grants of the Grant Pell are the academic competitive grant and the national approach to the scientific and mathematical approach to maintaining a talent grant (National Smart Grant). Academic competitive grants require a student to complete a strict secondary school program and be in the first or second year of a four -year study program. National recipients of intelligent grants must be in their third or fourth year of study in science, mathematics, engineering, technology or in a critical foreign language.
The help of teachers' education for a university grant and university education (Teach Grant) does not require a student to be the recipient of the Pell grant. Instead, the student must be enrolled in the University or Postgraduate Educational Program program and commit to teach in the field with a high -needed or basic or secondary school that serves students with low incomes one year for each year for the grant to receive. If the obligation is not fulfilled, Grant Teach is transformed into a federal student loan for complete repayment.
Student loans are also an important part of financial assistance programs. Low -interest loans are available to university and postgraduate students who have a significant financial needs. Federal loans for family education (FFEL) and William D. Ford Federal Direct Loans are also available to students. Direct loans and loans FFEL are referred to as Stafford loans. Stafford loans can be subsidized on the basis of need, which means that the federal government pays interest on the loan while the student attends school.
The final type of government financial assistance for college is a plus loan. Plus loans are provided by parents of dependent university students or postgraduate students. Plus loans differ from Stafford loans, because they require a trustworthy debtor or co -founder, where they are only founded as Stafford loans.