When you’re considering college, financial aid almost always comes to mind. How much aid you’ll receive may be a deciding factor in whether or not to attend college or whether you’ll be able to attend the college of your choice. You and your family have the primary responsibility of paying for college. But when those funds aren’t enough, you need to look at other resources. First you need to make the most of scholarships and grants. If you’ve already done that and still need more money, a federal student loan (a loan from or guaranteed by the federal government) is your best option. Every year, more than $83 billion in federal student aid (grants, work-study, and loans) is available to students. Everyone can receive a federal student loan because not all federal student loans are based on financial need. As with any financial decision, you should understand the process to make informed decisions. This attached publication provides you with the information you need. Thorough review of this publication will take place during CP in January 2010.
