College students in the United States can apply for various types of financial aid to pay for their studies. To apply for financial aid, you must complete and submit the Free Application for Federal Student Aid (FAFSA).
Federal aid is used to cover the cost at public and private universities and technical schools. Many states, universities, and financial institutions use the information on their FAFSA to determine eligibility for the financial aid you may receive.
Types of financial assistance
Grants: These are financial aid that is not returned and is generally awarded according to financial need.
Work and Study: A source of federal financial assistance used to offset the costs of education. Students attend college and work to earn money. Money is not refunded.
Loans - funds that are borrowed and must be repaid with interest. As a general rule, educational loans have much more favorable terms and interest rates than traditional consumer loans.
Scholarships: Scholarships are not returned and are generally awarded for merits such as academic or athletic achievement. Many organizations offer scholarships, such as universities, community organizations, and private institutions, among others.
A.for all types of government grants visit website