Federal Student Aid

    Need college funding? Fortunately, Federal Student Aid, an office of the U.S. Department of Education, provides more than $112 billion in grants, work-study, and loan funds each year. Federal Student Aid manages a variety of student financial assistance programs that fall under Title IV of the Higher Education Act of 1965. The office has access to the FAFSA (Free Application for Federal Student Aid) application, loans and grants, loan repayment options, and loan forgiveness. 

Considering School?

    Federal Student Aid (FSA) prepares multiple "key steps" to prepare for college and the resources needed. First, planning checklists for elementary school, middle school, high school, grad school, and adult student checklist are provided to maximize academics and assistance in the financial aid application process. Second, FSA offers a College Search Tool to compare colleges that a student may be interested in and a budgeting tool. Students should also start learning about the types of financial aid: loans, grants, and work-study programs. Below is a FSA video on how financial aid works and how they help fund education. 

    For anyone considering pursuing higher education, it's important to know FAFSA deadlines and apply for FAFSA. Deadlines vary depending on what state you are in and that college that you're interested in. All of the state deadlines are available online, and open October 1st. Applicants can use this link to begin their application. Students can also compare school financial aid offers online. 

In School?

Individuals already enrolled in a higher education institutions have a variety of ways to continue using FSA. Students must renew their FAFSA form ever year they'll be continuing their education. They also  have options to complete PLUS Loan applications for graduate school, loan agreements, loan counseling, and a TEACH grant counseling agreement. 

FSA also offers a Loan Simulator to help "calculate student loan payments and choose a loan repayment option that best meets your needs and goals." While it can't have a guaranteed 100% accuracy, the simulator offers helpful options and predictions. It offers advice on finding the best student loan repayment strategy, guidance for those struggling to pay student loans off, and a simulation for borrowing more. 

Parent Guide!

    

    FSA has multiple resources for parents who are saving for college and learning about financial aid. A popular option for federal aid is a Parent PLUS Loan. If credit doesn't check out for a loan, FSA offers a Credit Decision appeal as an option. There are numerous pre-college planning resources, tax benefits, and numerous parent loans. The Loan Simulator option is also available for parents. 

In Repayment!

After completing your education, the student loan repayment process is extremely flexible. FSA offers repayment options through their Loan Simulator. For individuals who work in public service, FSA has a Public Service Loan Forgiveness (PSLF) Help Tool on Direct Loans. After making 120 qualifying payments while working full-time for a qualifying employer, PSLF will forgive the remaining balance. Due to COVID-19, the U.S. Department of Education provided borrowers with a Student Loan Payment Pause. Repayments will resume sometime in the fall of 2023. Recently, the Biden-Harris Administration announced a one-time debt relief as part of their student debt relief plan. The debt relief can go up to $20,000 depending on Pell Grant eligibility and income requirements. Unfortunately, FSA is not currently accepting debt relief applications due to various courts blocking the program.

Extra Resources

U.S. Department of Education

Learn more about the department in charge of the Office of Federal Student Aid and other efforts towards maximizing education. 

FSA Data Center

Learn about the various data and information used for federal financial assistance programs.

FSA's Resource Articles

FSA offers multiple articles and tips on anything related to Federal Student Aid. 

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