With the objective of supporting student education, the US federal government offers several different types of grants, scholarships and student loans that are administered by different agencies including schools, federal government-approved lenders and the US Department of Education.

There are three different student aid programs administered directly by the financial aid office at each participating school. These include the Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work-Study (FWS) and the Federal Perkins Loans Programs.

Federal Supplemental Educational Opportunity Grant (FSEOG): This program is especially for undergraduate students. These grants operate in a way similar to Pell Grant; in the sense that they need not be paid back.

Federal Work-Study Program (FWS): Under this student aid program, students are provided an opportunity to work part-time and pay for their educational expenses. This program is available for both undergraduate and graduate students who are in need of financial help. In most cases, students have to work for the school under this program. Students can either opt for a community service work or any other job related to their course of study. If the students prefer an off-campus job, the employer must be a private non-profit organization having an agreement with the school.

Perkins Loans: These are student loans offered by the school's financial aid office to both graduate and undergraduate students. Normally, the interest rate on Perkins Loans is around 5 percent. Repayment period begins after the student has completed his/her education and left the school. Usually, a nine-month grace period is provided to every student after which the student has to repay the loan. The maximum eligible loan amount under this program is $4,000 each year for undergraduate students.



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