Every college bound senior should file a FAFSA, regardless of income. Some scholarships require a completed FAFSA before awarding money.

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The FAFSA may qualify you for federal grants, loans at a lower interest rate, and work study, meaning you can work part-time to help pay for college.

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Use the The FAFSA Process graphic  for step-by step directions.

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Check out this Ultimate Guide to Financial Aid and FAFSA.

Grants usually are awarded only to undergraduate students who display financial need and have not earned a bachelor's degree.

Most types of grants, unlike loans, are sources of free money that generally do not have to be repaid.

Grants can come from the federal government, your state government, your college or career school, or a private or nonprofit organization.

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Federal Work-Study provides part-time jobs for undergraduate students with some financial need, allowing them to earn money to help pay education expenses. 

Undergraduate students with work-study jobs will work part-time on or off campus while enrolled.

The Federal Work-Study Program emphasizes employment in civic education and work related to your course of study whenever possible.

The U.S. Department of Education’s  federal student loan program is the  William D. Ford Federal Direct Loan (Direct Loan) Program. The U.S. Department of Education is your lender. 

Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need. 

Direct Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need.

Direct PLUS Loans are loans made to  parents of undergraduate students to help pay for education expenses . Eligibility is not based on financial need, but a credit check is required.