Financial Aid is money awarded to students to help them pay for education. Aid is given as loans, grants, scholarships, or work-study. Some forms of financial aid are required to be repaid after graduation.
To be eligible to receive Federal Loans (Direct Stafford, Perkins and PLUS), students must be enrolled at least half-time (six credits for undergraduate students, five credits for graduate students), and must be in a degree-seeking program.
In order to be considered for Federal Financial Aid, you must complete the Free Application for Federal Student Aid (FAFSA).
Find the version of this article in Spanish here: ¿Qué es la Ayuda Financiera?