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People also ask
Is FAFSA considered federal financial aid?
Federal financial aid may include federal grants, scholarships, work-study, and/or loans. Is the FAFSA a Loan or Free Money? The FAFSA application is not a loan.
How do student loans work with FAFSA?
Based on the results of your FAFSA form, your college or career school will send you a financial aid offer, which may include federal student loans. Your school will tell you how to accept all or a part of the loan. Before you receive your loan funds, you will be required to
What is the difference between student loans and financial aid?
The main difference between student loans and financial aid is whether or not you need to pay back the money you are given. Student loans generally require that you pay back the loan with interest, while financial aid packages like scholarships and grants typically do not need to be paid back.
What are federal student loans for college?
Federal student loans for college or career school are an investment in your future. If you apply for financial aid, you may be offered loans as part of your school鈥檚 financial aid offer. A loan is money you borrow and must pay back with interest.