Federal Pell Grants are awarded to undergraduate students who display exceptional financial need and have not earned a bachelor’s, graduate, or professional degree. A Federal Pell Grant, unlike a loan, does not have to be repaid, except under certain circumstances. You may not receive Federal Pell Grant funds from more than one school at a time. Eligibility is determined by Title IV guidelines. The free application is available online at fafsa.gov. A financial aid offer itemizing the student’s financial arrangements is given to the students for approval prior to disbursing any funds.

These are interest-bearing loans which must be repaid regardless of course completion. Loans made by the federal government, called federal student loans, usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources. Eligibility is determined by Title IV guidelines. The free application is available online at fafsa.gov. A financial aid offer itemizing the student’s financial arrangements is given to the students for approval prior to disbursing any funds.