The U.S. Department of Education (ED) offers a variety of federal grants to students attending four-year colleges or universities, community colleges, and career schools. Check out the grant programs for more details and to learn how to apply:

• Federal Pell Grants

• Federal Supplemental Educational Opportunity Grants (FSEOG)

• Iraq and Afghanistan Service Grants

• Teacher Education Assistance for College and Higher Education (TEACH) Grants

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

Federal Work-Study provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student’s course of study.

Here’s a quick overview of Federal Work-Study:

• It provides part-time employment while you are enrolled in school.

• It’s available to undergraduate, graduate, and professional students with financial need.

• It’s available to full-time or part-time students.

• It’s administered by schools participating in the Federal Work-Study Program. Check with your school's financial aid office to find out if your school participates.

The U.S. Department of Education’s federal student loan program is the William D. Ford Federal Direct Loan (Direct Loan) Program. Under this program, the U.S. Department of Education is your lender. There are four types of Direct Loans available:

• Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school.

• 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 graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.

• Direct Consolidation Loans allow you to combine all of your eligible federal student loans into a single loan with a single loan servicer.

Any student loans that are not federal student loans. These loans do not offer the flexible repayment terms or borrower protections featured by federal student loans. Private student loans are not funded or subsidized by the federal government. The bank or lender – not the federal government – sets interest rates, loan limits, terms, and conditions of private student loans.  

While private student loans are all structured differently, they are generally different from federal student loans in several ways and may include:  

• Variable interest rates that can rise when interest rates rise during the life of the loan — which can substantially increase your payment  

• Fewer options to reduce or postpone payments  

• Less flexible repayment options  

Multiple sources such as banks, credit unions, or other types of lenders. Apply directly with them.