- Student Loans. Education Tax Credits: What are qualified tuition and related expenses
- Student Loans. Student Loans Payment: Are student loans still on hold?
The life of a student in America is not easy after you graduate but the United States Government does take care of your school expenses when you are in college. Many students need to borrow money in order to pay for it, this becomes possible for the Government to cover depending on your year in school, your status and your financial need. There is a strong possibility that you can get the necessary financial aid that can help you cover the entire cost of your attendance. Although there are many cases in which limits are set in place but FAFSA offers quite an important number of cash in financial aid for students in the country.
Federal and financial aid limits for students
The financial aid that comes from the United States Government on a federal level includes federal grants, student loans, and work study programs. There is a limit for each of these programs that vary by school, year, and other aspects. For example, the Pell Grant, TEACH Grant, and the Iraq and Afghanistan Grant maximum awards do tend to change every year. Also, the max amount you can get through Direct Loans may also increase for every single year you are in school. You need to be mentally prepared for these modifications depending on the istration that is in place when you are in school.
Some people also may not qualify for the published maximum for number of grants as school have a limited funding they can use. Plus, most financial aid is calculated based on your financial need. The published maximums for all major financial programs are $7,395 per year for Pell Grants. A total of $4,000 per year for the Federal Supplemental Edicational Opportunity Grant (FSEOG). The Teacher Education Assistance for College and Higher Education (TEACH) Grant gets $3,772 per year. People get $6,501.99 per year for the Iraq and Afghanistan Service Grant. The Direct Subsidized Loan gets people between $3,500 and $5,500 per year depending on the school. You need to see which one suits your better and for which of these school financial aid programs you qualify.