Student Financial Aid

This pages serves to guide students through the process of locating and applying for financial aid. Prepared by the Congressional Research Service for Members of Congress, updated September 2022.

The Basics: Getting Started


Student Aid and Where it Comes From

Basic Assistance Categories:

  • Financial need-based
    Remember that students and their parents are responsible for paying what they can -- financial aid is a supplement, not a substitute, for family resources.

  • Non need-based
    Factors include academic excellence, ethnic background, or organization membership. Corporations may also offer assistance to employees and children.

Federal Student Aid:

  • Provides nearly 70% of student aid under Loans, Grants and Work Study programs.
  • Available to all need-based applicants; some loans and competitive scholarships for non need-based.
  • Loans are the most common federal aid and must be repaid when you graduate or leave college.
    • Stafford Loans (FFELs and Direct Loans) include:
    • Federal PLUS Loans parental loans, not need-based.
    • Perkins Loans for the most needy undergraduates; through participating schools.
  • "Congressional" scholarships:
    • Named for Member of Congress or other prominent individual (such as a Fulbright fellow)
    • Merit-based and highly competitive
    • Members of Congress do not play a role in selecting recipients
  • For questions not covered by the Department of Education Web site, call the Federal Student Aid Information Center at 1-800-433-3243.

State Aid:

  • Some states offer residents a variety of scholarships, loans, and tuition exemptions:
  • Search your Internet browser under terms such as student financial aid or assistance AND your state.

College and University Aid:

  • Some colleges and universities provide some 20% of aid, most need-based.
  • Check university Web sites and the institution’s financial aid office when you apply for admission.

Private Foundations, Corporations, and Organizations Aid: 

Targeted Aid for Special Groups

Interested in Public Service?

Federal assistance programs seek to encourage people to work in geographic areas or professions where there’s a particular need (such as doctors in underserved areas), encourage underrepresented groups to enter a particular profession, and provide aid in exchange for services provided (such as military service).

  • AmeriCorps Education Award
    Volunteers who complete one year of service receive an education award for current higher education expenses or to repay student loans.
  • Indian Health Service
    Scholarships for American Indian/Alaskan Native health profession students and loan repayment for persons working in IHS facilities.
  • Nursing Scholarships
    Offered in exchange for two years of service in areas with critical nursing shortages.


Aid for Private K-12 Education

No direct federal assistance, check with schools themselves.

Repaying Your Loans

After college, the federal government has ways to help you repay your loans.

  • Eligibility depends upon the type of loan, when it was made, and whether it’s in default. Check with your loan officer to find out if you qualify.

Loan Consolidation: combine your federal loans into a single loan with one monthly payment.

Biden-Harris Loan Forgiveness Plan

Over 8 million borrowers will see automatic relief by mid-October 2022 thanks to the Biden-Harris Loan Forgiveness Plan. For others, the Department of Education will have an application for forgiveness available by early October. If you are eligible for loan forgiveness and would like to receive updates on the application, click HERE.

Here’s what the plan does:

  • Pauses Student Loan Payments 

    • There is one final loan repayment pause until Dec 2022 with payments resuming in January 2023.

  • Student Debt Forgiveness 

    • $10,000 (or $20,000 for Pell Grant recipients) in debt cancellation to those with loans held by the Department of Education

    • Eligible borrowers must have an individual income of less than $125,000 or $250,000 for households

    • There are also limited time changes to the Public Service Loan Forgiveness program. Click HERE to learn more.

  • Improves the Loan System for Future Borrowers

    • Borrowers will pay 5% discretionary income towards loans (down from 10%)

    • Forgive loans after 10 years (down from 20 years)

    • Cover borrower’s unpaid interest

    • Non-discretionary income level raised

For more information regarding the Biden-Harris Administration's Student Debt Relief Plan, click HERE.