Federal student aid is an invaluable resource for students, with nearly 70% of all aid—including loans, grants, and federal work-study programs. While many of these programs are need-based, some loans and competitive scholarships are available regardless of financial need.
After college, the federal government offers several ways to assist with loan repayment. The specific assistance available depends on your type of loan, when you made it, and its current status, including whether it is in default. Below are resources to help identify federal student aid, loan repayment, and loan relief programs.
Federal Student Aid
Here is some information from the United States Department of Education on financial aid:
Loans are the most common federal aid awarded and are to be repaid upon graduation or when you leave college. Here are the types of loans given:
Here are scholarship/grant opportunities that are mostly need-based and do not require repayment:
Work-Study Programs:
Work-study programs allow students to earn money while enrolled in school. These programs provide undergraduate, graduate, and professional students with part-time employment. This is important to full-time or part-time students and is administered by schools participating in the Federal Work-Study Program. Make sure to check with your school about eligibility. For questions not answered from the Department of Education’s website, call the Federal Student Aid Information Center at 1-800-433-3243.
Other Resources for Parents to Save for College Expanses:
Be on the lookout for savings plans and tips for affording college
Beware of scholarship scams
Free Application for Federal Student Aid (FAFSA)
All students seeking financial aid must complete the Free Application for Federal Student Aid (FAFSA). Filing the FAFSA opens the door to numerous financial aid opportunities, including aid from the federal government, the state government, college-specific aid funds, and various private scholarships.
The FAFSA collects information about your family’s financial status, including your parents’ income. The federal government uses this information to prioritize aid for students with the greatest financial need. Many colleges also use this data to estimate your family’s ability to pay for college and determine how much financial aid they can offer you.
The FAFSA has recently been redesigned to be simpler and faster, guiding you step by step through the filing process. If you have an issue with the new FAFSA, please reach out to the Department of Education’s Ombudsman as soon as possible.
If you are an undocumented student or have received Deferred Action for Childhood Arrivals (DACA), you are not eligible to receive federal aid, and you do not need to fill out the FAFSA. There are other sources of funding available specifically for DACA and undocumented students.
FAFSA Resources:
Federal Loan Repayment and Relief
Student Loan Forgiveness and Debt Relief:
Under the Biden-Harris Administration, more than $167 billion in student loan relief has been approved for 4.75 million borrowers across the country. Borrowers should check if they qualify for opportunities to have some or all of their loans canceled. You may be eligible for debt relief if you are a teacher, government or nonprofit employee, medical professional, have a disability, are repaying your loans under Income-Driven Repayment (IDR), or if your school closed or misled you.
Loan Repayment Plans:
Borrowers have the option to choose a repayment plan that fits their budget. Repayment plans based on income can lower your monthly payment. Here are the types of repayment plans available:
Preparing for Repayment:
Borrowers should make sure their StudentAid.gov account is active, and their contact information is up to date on their loan servicer's website.
- Borrowers can visit their StudentAid.gov Dashboard to review their federal loans, check their balances, and see the current status of their loans.
- Borrowers can also call 1-800-4-FED-AID (1-800-433-3243) for information about who their loan servicer is or they can find this information here.
Review important concepts, tips, and recommendations for repaying your student loans at Repaying Student Loans 101.
Questions or Concerns:
If you encounter issues with loan scammers or inaccuracies in your account, you can contact the Department of Education’s Ombudsman, the Consumer Financial Protection Bureau, the Florida student loan Ombudsman, or Florida’s Attorney General’s office.
For more information on managing your student loans and exploring potential relief options, visit the Department of Education's website for borrowers at StudentAid.gov.
Florida Resources
Eligible Florida residents can access scholarships, loans, and tuition exemptions. The Florida Department of Education (FDOE) and the Florida Lottery have helped over 950,000 students and counting to pursue postsecondary education through the Bright Futures Scholarship program. Additional opportunities are provided through the Florida College System.
The Florida Student Scholarship & Grant Programs website can assist you with submitting a Florida Financial Aid Application (FFAA), understanding state grant and scholarship opportunities, and finding eligible institutions for state aid.
Public Service Federal Aid Programs
Federal assistance programs aim to encourage people to work in geographic areas or professions where there is a particular need, such as doctors in underserved areas. These programs also support underrepresented groups entering a particular profession and provide aid in exchange for services, like military service.
