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Free Application of Federal Student Aid (FAFSA) Information
This is where you can find information on federal student aid. Student aid will assist you with paying for college. You will have to pay most of it back, however you will not have to pay until after you graduate unless you are able to before that. It is crucial to have this filled out in a timely manner. Please see your high school counselor if you need assistance filling this out.
Types of Student Loans
Click the links below for additional information
There are four different types of student loans that you can take out. Keep in mind that whatever you take out, you will have to pay back. Click on the title for a link to an article about it.
Direct Subsidized Loans: This type of loan is for undergraduate students. While in school, the government pays your loan interest and up to 6 months after you graduate and in deferment.
Direct Unsubsidized Loans: Similar to subsidized except the student (borrower) is responsible for the interest that accrues during all periods and also when it is not active payment. Students are required to pay all interest that adds up. It is available to both undergraduate and graduate students.
Direct PLUS Loans: These are federal government loans that are strictly for graduate or professional students. These types of loans are less favorable. Look at subsidized and unsubsidized loans first. Credit check required.
Direct Consolidation Loans: Consolidating multiple loans into one will make repayment easier. This sounds like a great idea, but typically there are downsides to this for example a higher interest rate.
Private Student Loans: These types of loans typically are credit based. Generally through private businesses like banks and typically are more expensive than the federal loans.
Picture courtesy of KU Brand Photography
Instructions
The picture links the federal website with instructions on what you need to fill out the FAFSA.
Picture courtesy of KU Brand Photography
FAFSA Worksheet
This picture links to the 2022-2023 FAFSA web worksheet that will help you fill out your paperwork.
Picture courtesy of KU Brand Photography
Types of Financial Aid
This picture links to the different types of financial aid that you can receive. Grants, loans, and scholarships are some examples. There is also aid for military families.