Pay for School

If you still need money after taking advantage of all your federal loans, you will have to take out private loans. To avoid private loans, be aware of all federal aid opportunities. There are many financial aid programs to help students pay for school. Before turning to student loans, or at least before repaying them completely, research the options below.

Federal Grants

To get financial aid, students must complete the FAFSA. FAFSA on the Web is the easiest way to apply, but there is a paper form available. Federal Pell Grants are the most common government grants, and are need-based grants. The Federal Supplemental Education Opportunity Grant (FSEOG) is a Pell Grant adjunct that helps undergraduate students with exceptional need pay for school. Between $100 and $4,000 per year is available to those who are eligible.

There are special grants for students interested in teaching or majoring in high-demand fields like math and science. The Teacher Education Assistance for College and Higher Education Grant, TEACH Grant, is for education majors, and the National Science & Mathematics Access to Retain Talent Grant, National SMART Grant, is for math and science. The Academic Competitiveness Grant is a new federal grant for students outside of those fields that have exceptional academic merit, and have completed a rigorous high school curriculum.

Federal Loan Repayment Options

When students use up all grants and scholarships, they have to borrow money. There are a few circumstances where students are eligible for loan cancellation. If you need to take out student loans familiarize yourself with all loan options, and check if you qualify for loan reduction or cancellation.

Those who plan to teach math, science or special education at low-income schools can have their Stafford Loans forgiven up to $17,500. Those who become full-time teachers for at least five years in any subject in low-income schools can get $5,000 in loan forgiveness.

Students who do want to be teachers but are still interested in public service jobs are eligible for discharge through the Loan Forgiveness for Public Service Employees program, PSLF. If you work for the government, military, law enforcement, libraries or certain tax-exempt organizations you can qualify for partial loan cancellation.

Latest College & Financial Aid News

Elon U Sued by Student for Alleged Discrimination

June 19, 2018

by Susan Dutca

An Elon University student has filed a lawsuit against the university alleging unfair suspension following an off-campus fight with the son of one of the university's largest donors. According to the lawsuit, Spencer Schar had assaulted two women and punched another man before Samuel Shaw intervened, but Schar faced a lighter suspension. [...]

University Suspends 15 Fraternity Members over Discriminatory, Sexual Videos

June 12, 2018

by Susan Dutca

Five of the fifteen students who were suspended from Syracuse University for up to two years after they appeared in an "extremely racist" and "offensive" video have turned around to sue the university, claiming that the videos were private and taken out of context. A free-speech advocacy group, FIRE, is supporting the Theta Tau fraternity members against the "kitchen-sink" discipline. [...]

Professor Supports Beleaguered Colleague, Gets Fired

June 5, 2018

by Susan Dutca

A Santa Barbara City College Professor believes he is facing "collateral damage" for defending a professor he had invited to SBCC as a guest speaker. After coming to the defense of the disgraced professor, Mark McIntire was told that he would not be rehired - for reasons other than publicly opposing "social justice warriors." [...]

Last Reviewed: June 2018