A Direct Consolidation Loan allows a borrower to consolidate (combine) multiple federal student loans into one loan. The result is a single monthly payment instead of multiple payments. From January through June 2012, the U.S. Department of Education will offer certain borrowers two options for consolidation: Traditional Direct Consolidation Loans Special Direct Consolidation Loans During this time period, borrowers making Read More »
Federal Financial Aid for Single Moms
Financial assistance provided by the federal government.
This type of financial assistance for education may take the form of grants, loans, and/or work-study programs. Federal agencies that offer financial aid include the Department of Education, the Department of Health and Human Services, and the Department of Defense.
Learn how FAFSA4caster helps students understand the options for paying for college, and estimate the eligibility for federal student aid. To apply for federal financial aid, students need to fill out the online Free Application For Federal Student Aid (FAFSA). Students need to apply for financial aid each year in college. Once students know what federal financial aid they qualify for, they will be able to estimate the additional amount needed to cover tuition and additional costs. These additional amounts can be covered with loans, institutional scholarships, or other sources, including doing part time jobs during college.
For Graduate and Professional Degree Students Graduate and professional degree students can borrow a Direct PLUS Loan to help cover education expenses. The terms and conditions for issuing the loan depend on the credit history of the applicant. The Direct Plus Loan has a fixed interest rate of 7.9%. You are required to complete the Free Application for Federal Student Read More »
Perkins Loans The Federal Perkins Loan is a low interest (5%) loan for both undergraduate and graduate students with exceptional financial need. The Federal Perkins Loan is issued through the school’s financial office. The school is the lender, so the loan needs to be repaid to the school. However the loan is made with government funds. Undergraduate students with exceptional Read More »
The Federal Pell Grant is the foundation of federal financial aid. It is awarded to undergraduate students who have not yet earned a bachelor’s or a professional degree. The Pell Grant can be also awarded to post baccalaureate students enrolled in teacher certification programs. The Federal Pell Grant program helps ensure access to postsecondary education for low and moderate income Read More »
Applying for federal student aid is quick and easy. You can complete the Free Application for Federal Student Aid (FAFSA). Follow these easy steps to simplify the process of applying for federal student aid. The Free Application for Federal Student Aid (FAFSA) is required to apply for federal student aid, such as federal grants, loans, and work-study. The FAFSA is Read More »
The Federal Government will cancel all or part of an educational loan under certain circumstances. This program is called Loan Forgiveness. To qualify, you must: Perform volunteer work; Perform military service; Teach or practice medicine in certain types of communities Meet other criteria specified by the forgiveness program. To find out whether you qualify for loan forgiveness, talk to the Read More »
The Teacher Education Assistance for College and Higher Education Grant (TEACH Grant) was created by the Congress in 2007 to provide up to $4,000 per year in grants to students, who plan on teaching in public or private elementary or secondary schools serving children from low income families. To receive the TEACH Grant, prospective students must commit to serving upon Read More »
The National Science and Mathematics Access to Retain Talent Grant, also known as the National Smart Grant is available during the third and fourth years of undergraduate study (or fifth year of a five-year program) to at least half-time students who are eligible for the Federal Pell Grant and who are majoring in physical, life, or computer sciences, mathematics, technology, Read More »
Offered by Health Resources and Services Administration (HRSA) Scholarships National Health Service Corps Students committed to primary care and enrolled in allopathic or osteopathic medical, dental, physician assistant, nurse practitioner or certified nurse midwife training programs can receive tuition, fees, other educational costs and a living stipend, tax-free, for as many as 4 years in exchange for an equal number Read More »
Income-Based Repayment (IBR) is one of several repayment plan options for borrowers of student loans made under the William D. Ford Federal Direct Loan (Direct Loan) Program or the Federal Family Education Loan (FFEL) Program. If you qualify for IBR, your required monthly payment will be capped at an amount that is intended to be affordable based on your income Read More »