Resources This brochure provides an overview of the federal amounts each academic year. Contact your Financial Aid student aid programs available to eligible graduate school’s fnancial aid offce for details. StudentAid.gov or professional students. • Direct PLUS Loans—Eligible graduate or Find detailed information about federal student for Graduate or professional students who need to borrow aid and the FAFSA application process. The Some Facts About Federal more than the maximum unsubsidized site includes helpful publications and tools for Student Aid loan amounts to meet their education managing Direct Loans. Professional • Federal Student Aid, an offce of the U.S. costs may apply for a PLUS loan. A Department of Education (ED), is the largest credit check will be completed during “My Federal Student Aid” at Students provider of student fnancial aid in the nation. the application process. StudentAid.gov/login We provide more than $120 billion each year Get more information about federal student loans For information about all of your federal student to help millions of students pay for higher at StudentAid.gov/loans. loans and federal grants, visit “My Federal education. Student Aid.” Note that this site does not • Completing the Free Application for Federal • Teacher Education Assistance for College include information about any private loans Student Aid (FAFSA®) form is free, and it’s easy and Higher Education (TEACH) Grant you may have received. to apply. You can complete the application at The TEACH Grant Program provides grants of up to $4,000 a year to students who are StudentLoans.gov fafsa.gov. completing or plan to complete course work Get information about completing the Master • In almost all cases, graduate or professional needed to begin a career in teaching. This Promissory Note (MPN), Direct PLUS Loan students are considered independent students program is different from other federal student requests, loan entrance counseling, loan exit for the purposes of completing the FAFSA form. grants in that it requires you to take certain counseling, loan repayment, and more. This means they generally are not required to kinds of classes to get the grant, and then to provide parent information. do a certain kind of job to keep the grant from Stay connected: Types of Federal Student Aid being converted to a loan. To learn more about this program, visit StudentAid.gov/teach. Graduate or professional students may be eligible /FederalStudentAid to receive aid from the following federal student • Federal Work-Study (FWS) Program aid programs: The FWS Program provides part-time jobs for /FAFSA undergraduate and graduate students with • The William D. Ford Federal Direct Loan fnancial need. /FederalStudentAid (Direct Loan) Program This program allows you to earn money to This is the largest federal student loan program. Note: The information in this document was compiled help pay education expenses, and encourages Under this program, ED is your lender rather in the summer of 2017. For changes to the federal community service work and work related than a bank or other fnancial institution. There student aid programs since then, visit StudentAid.gov to your course of study. Visit StudentAid.gov are two types of Direct Loans that graduate or or call 1----800-4-FED--AID (1----800-433-3243). /workstudy for details. professional students enrolled in a program TTY for the deaf or hard of hearing: 1-800-730-8913. leading to a degree or certifcate may receive: • Federal Pell Grant Callers in locations without access to 1- -800 numbers Have you applied for fnancial aid from • Direct Unsubsidized Loans—Eligible A Pell Grant, unlike a loan, does not have to may call 334---523-2691 (this is not a toll--free number). the U.S. Department of Education? students may borrow up to $20,500 per be repaid. You may be eligible to receive one Cover Photo: Tom Merton/Getty Images school year. Graduate or professional if you are enrolled in a postbaccalaureate teacher certifcation program. Amounts can Printed: September 2017 students enrolled in certain health profession programs may receive change yearly. ® additional Direct Unsubsidized Loan When you sign your promissory note, you Tip: Before completing your FAFSA® form, Don’t forget to research the potential tax are agreeing to repay the loan according make sure to create your FSA ID—a benefts of higher education at irs.gov. to the terms of the note even if you don’t username and password that is used complete your education, can’t get a job after to access sensitive information on U.S. you complete the program, or don’t like the Department of Education websites. Your education you received. FSA ID is used to confrm your identity and • How will the amount you borrow in student loans electronically sign your federal student aid affect your future fnances, and how much can documents, including the FAFSA form. To you afford to repay? create an FSA ID, visit StudentAid.gov/fsaid. Marc Romanelli/Getty Images Your student loan payments should be only a small percentage of your salary after you Note: Visit StudentAid.gov/types to learn Other Types of Financial Aid graduate, so it’s important not to borrow more more about the federal student aid programs; than you need for your school-related expenses. • Aid From Other Federal Agencies and contact your school’s fnancial aid Plan and budget for now and for the future. To fnd out about funding from agencies other offce to fnd out which programs the school Get information about income-driven repayment than ED, visit StudentAid.gov/types. participates in. and other student loan repayment plans at • State Aid FatCamera/Getty Images StudentAid.gov/plans. Also, check out the Eligibility Requirements Many states offer assistance for graduate or Financial Awareness Counseling Tool at professional school. Find state grant agency Key Points to Consider When StudentLoans.gov to help with your fnancial To qualify for federal student aid (grants, contact information at www.ed.gov/sgt. Taking Out a Student Loan aid planning and to assist you in managing loans, and work-study funds), you must meet your fnances. • School Aid • What is the source of the loan? Is it a federal certain eligibility requirements. Some of our To fnd out the types of aid your school loan or a private student loan? • Do you know about federal student loan general eligibility requirements are that you offers, contact the school’s fnancial aid Student loans can come from the federal forgiveness? must demonstrate fnancial need (for most offce, and check with faculty members government or from private sources, such If you work in certain felds, you may be eligible programs); be a U.S. citizen or eligible noncitizen; in your area of study. as banks or fnancial institutions. Federal to have some portion of your loans forgiven. and be enrolled or accepted for enrollment student loans offer benefts that may not be Learn about our loan forgiveness programs at as a regular student in an eligible degree or Sources for Additional Funding available with private loans. These include StudentAid.gov/forgiveness. certifcate program. Learn more about the basic Check out the following sources: several repayment plans that keep your monthly eligibility requirements for federal student aid student loan payment at an amount that at StudentAid.gov/eligibility, and contact your • The free scholarship search from the is intended to be affordable based on your school’s fnancial aid offce if you have U.S. Department of Labor at income and family size. Learn more about the any questions. www.careerinfonet.org/scholarshipsearch differences between federal and private student • Foundations; organizations (e.g., religious, Apply for Aid loans at StudentAid.gov/federal-vs-private. community, professional, ethnicity-based); To apply for federal student aid, you frst need local businesses; and civic groups • What are the terms and conditions of the loan? to complete the FAFSA® form at fafsa.gov. Many It’s important to know what you’re signing up • Your employer states and colleges use your FAFSA data to for. Understand the terms of your loan and keep determine your eligibility for state and school • Your state vocational rehabilitation agency, copies of your loan documents. The Master aid, and some private fnancial aid providers if appropriate, (a list of state agencies is at Promissory Note (MPN) is the legal document may use your FAFSA information to determine www.ed.gov/svr) you must sign to receive a federal student loan. whether you qualify for their aid. Hero Images/Getty Images