Federal loans are borrowed and must be repaid, generally after you are no longer in school, have dropped below half-time, or have graduated. Interest rates are usually lower than commercial loans.
Basic Eligibility Requirements:
Recipients must be U.S. citizens or permanent residents enrolled at least half time in a qualified program at a participating school, not in default on a prior student loan, and not convicted of a drug offense while receiving prior federal financial aid. Total aid, including student loans, cannot exceed school’s total cost of attendance (tuition and fees, room and board, transportation, personal and miscellaneous expenses).
To file your FAFSA, please visit www.fafsa.ed.gov.