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if you need help paying forcollege or career school, the office of federal studentaid might be your best option. we offer more than $150 billionto students each year in the form of grants, loans,and work-study funds. and federal student aid can beused to pay for school expenses such as tuition, room andboard, and books and supplies. after you've filled out thefree application for federalstudent aid or fafsa, you'll receive an award letterfrom each school you list onyour fafsa. this letter explains both thefederal and non-federal

financial aid options that aschool is offering you. so let's talk about federal aid. if you qualify for and receivea federal grant, you won't haveto repay the money. that will definitely helpoffset the cost of school, butyou may still need additionalhelp. if so, a federal student loanmight be your answer. remember, a student loan isjust like any other loan; it's borrowed money that willhave to be repaid with interest. if you plan to take out a loan,consider federal student loansfirst. compared to private studentloans, federal student loansoften have lower fixed interestrates

and offer many benefits thatyou won't find otherwise. for example, when it's time foryou to repay your federalstudent loan, your loan servicer can workwith you to find the bestrepayment plan for yourindividual needs. plus, you may be able to adjustyour loan payments based onyour income. you also may be able to deferyour federal loan payments,deduct student loan interest onyour taxes, and even consolidate youreligible federal student loansinto one loan with one monthlypayment. federal loans can even beforgiven based on certain typesof employment. getting a work-study job isanother great option to helppay for school. eligible undergraduate andgraduate students will be ableto earn at least minimum wage.

if you have questions or needany assistance, you can contactthe financial aid office atyour college or career school orvisit studentaid.gov for moreinformation.