Skip Navigation LinksHome > Financial Aid > Federal Financial Aid

Federal Financial Aid

Everyone knows that college costs have jumped over the past decade and, as a result, millions of students every year search for federal financial aid. Thankfully, there are lots of sources for federal financial aid to help pay those college bills.

Federal financial aid is generated through a number of different programs. First, however, students should search for all scholarships and grants – not just federal programs – as scholarships and grants represent free money for students. There are a number of respected scholarship search sites online so be sure research all your options before choosing federal or private student loans.

  • Borrow up to your total cost of education.
  • Online application takes just minutes.

After your search for scholarships and grants, explore other federal financial aid programs. There are, of course, a number of federal loan programs which represent financial aid opportunities for students. The most widely-used federal financial aid loan program is the Stafford loan which offers students fixed interest rates and generous repayment provisions. Beyond the Stafford loan, federal financial aid can come in the form of Perkins Loans, though Perkins Loans are need-based so not all students will qualify.

There is also a PLUS Loan program which allows parents of undergraduate students to borrow at a fixed interest rate. This particular federal financial aid program is sometimes used as an alternative to private student loans. Private loans, which are not guaranteed or subsidized by the federal government, are not federal financial aid but are another source of funds for families in need of financing assistance.

If you need to use a private student loan to help cover the cost of college, consider a Think Student Loan. A Think Student Loan allows students to borrow up to the full cost of education up to a $250,000 lifetime aggregate maximum. Students can apply online or over the phone in approximately 15 minutes and the check is sent directly to you or your cosigner.1 Plus, you can defer payments until after graduation and the loan offers an additional 6 month grace period after graduation.2

1 This loan does not require school certification and the proceeds are disbursed in the form of a check co-payable to the borrower and cosigner (if applicable), mailed directly to the applicant with the stronger credit profile.

2 Interest will continue to accrue while your payments are deferred, and it will be capitalized (added to your principal loan balance) when repayment begins.

* Think Financial refers applications to Simple Tuition, a leading student loan comparison site, and is paid a fee for this referral.