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Federal and State College Financial Aid Programs

A number of federal, state, private loan, and scholarship programs are available to those seeking to finance a child’s education. Under many of these programs, a parent does not have to be in a low-income bracket to receive financial assistance.

The federal government administers several major financial assistance programs. Some of these programs are direct assistance programs; the others are administered through the college that the student attends. Other programs include PLUS loans, Supplemental Education Opportunity Grants, Perkins Loans, and the College Work-Study Program.

State governments also offer a variety of assistance programs, but most are available only to state residents attending schools within that state. Many states also have special programs for teachers and National Guard enlistees. Others offer work-study programs and special academic supplements.

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