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Fast Fact

More than $168 billion in student financial aid is available every year.

Source: The College Board, 2009

Student Aid 101

You CAN make sense of the complicated world of student aid.

Need to pay for college but don't know where to begin? You've come to the right place. Student aid is available to help you cover school-related expenses. Take a few minutes and get to know the basics:

Grants, Scholarships, and Loans
What's the difference between grants, scholarships, and loans? Which should you pursue first?
Your Award Letter
Read the award letter you receive from a school's financial aid office to understand the types of student aid you are being offered.
Types of Loans
Learn about the different loan types and choose the one that's right for you.
The Basics of Loans
Understand the building blocks that are the foundation of student loans.
The Language of Loans
Learn to talk the talk in the world of student aid.
Your Responsibilities
Learn what's expected of you before you agree to anything.

Supporting Content

Helpful Hint

Don't know who your loan servicer is?
Check NSLDS.ed.gov to see a complete snapshot of your federal student aid. You will need your PIN to access this information.

Test Your Knowledge

College is expensive. What was the average cost (tuition and fees) for a 4-year public school in the United States in 2009–2010?

$7,020
$9,010
$12,050

1. $7,020

Although there are plenty of schools with higher tuition and costs, the average in the United States is $7,020 per year.