Every college student knows how expensive a college education can get. Most college students opt to go for private student loans with very high interest rates. In most instances, this happens because most students are unaware of the federal student aids that are offered by the federal government.
The United States Department of Education has been successfully running the Federal Student Aid program for several years now. In that period of time, the program has become America's largest source of financial student aid with over $150 billion in grants, work-study programs, and federal loans for students attending four-year colleges or universities, community colleges, and career schools.
The Department of Education offers several types of educational financial assistance such as grants, federal loans, and work-study programs. It is very much essential for student to determine which type of assistance will best suit his/her financial needs.
Most college students, however, are hesitant to procure federal student aid because they are not familiar with the program's eligibility requirements.
The eligibility for most federal student aid is usually based on financial need and several other factors that need to be taken into consideration. That said, some of the most fundamental eligibility requirements to receive a federal student aid are the following: