Do you have to pay back awarded financial aid?
The type of aid you receive after filling out the FAFSA determines if you need to pay it back. Grants, scholarships, and work-study money dont need to be repaid but have finite funding limits. You will need to repay subsidized, unsubsidized, and Direct Plus Loans.
What is an example of federal assistance?
The transfer of money, property, services, or anything of value, the principal purpose of which is to accomplish a public purpose of support or stimulation authorized by Federal statute,and includes, but is not limited to, grants, loans, loan guarantees, scholarships, mortgage loans, insurance, property, technical
What prohibits recipients of federal financial assistance?
Title VI of the Civil Rights Act of 1964 provides that no person in the United States shall, on the ground of race, color, or national origin, be excluded from participation in, be denied the benefits of, or be subjected to discrimination under any program or activity receiving federal financial assistance.
What qualifies as federal financial assistance?
Federal financial assistance (FFA) is assistance that grantees receive or administer in the form of grants, cooperative agreements, non-cash contributions or donations of property, direct assistance, loans, loan guarantees, and other types of financial assistance.
Should I accept financial aid award?
Do I Have to Accept All of My Financial Aid? Absolutely not! In fact, many financial aid experts recommend that you only accept what you really need. While accepting scholarships and grants is often harmless, you should be careful about how much you accept in student loans.
