To apply for any of the federal student aid programs, you must complete the FAFSA.
For priority consideration, complete the FAFSA as soon as possible once it opens. A FAFSA renewal must be completed each year that you are in college.
| Programs | General Eligibility | Annual Award Amounts |
|---|---|---|
| Grants — financial aid awards generally based on financial need. A grant usually doesn't have to be repaid. | ||
| Federal Pell Grant | Undergraduate student with financial need. Must be enrolled at least half time. | The maximum Pell Grant for the 2026–2027 award year is $7,395. |
| Federal Supplemental Educational Opportunity Grant | Undergraduate student with exceptional financial need. Federal Pell Grant recipients receive priority. | Up to $4,000 per year. Amount can vary by institution. |
| TEACH Grant | Undergraduate, post-baccalaureate or graduate student enrolled in coursework necessary to begin a career in teaching. Must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students. Visit StudentAid.gov/understand-aid/types/grants/teach for a listing of schools and programs. | Up to $4,000. If you do not teach as required, the grant becomes a loan and must be repaid. |
| Work-Study — part-time employment that lets you earn money while taking classes. Your job may be on or off campus. | ||
| Federal Work-Study | Full-time or part-time undergraduate, graduate or professional student. | At least minimum wage. |
| Loans — money borrowed from the government or school and must be repaid. | ||
| Direct Loan | Undergraduate, graduate or professional student enrolled at least half time. | Depends on grade level and dependency status. Maximum for undergraduate: $5,500–$12,500; graduate or professional student: $9,500–$20,500. |
| Direct PLUS Loan | Graduate or professional student or parent of dependent undergraduate student enrolled at least half time. Credit approval required. | Cost of attendance less the amount of other aid received. |
* Programs are subject to change based on federal legislation.
Funding Your Future
Direct Loan Limits
| Grade Level | Dependent Status | Independent Status |
|---|---|---|
| First Year | $5,500 | $9,500 |
| Second Year | $6,500 | $10,500 |
| Each Remaining Year of Undergraduate Study | $7,500 | $12,500 |
| Each Year of Graduate/Professional Study | $20,500 | |
| Who Borrows? | Student | |
| Loan Limits | Annual/Cumulative | |
| Interest Rate | Undergraduate — 6.39% Graduate/Professional — 7.94% | |
| Credit review | No | |
Federal financial aid eligibility requirements and award amounts are subject to change. For the most up-to-date information, including interest rates, visit StudentAid.gov.
First, get all the "free" money you can for school. That means grants and scholarships. If you need more, try work-study or you can get a student loan.