What Are Fafsa trainee Loans?

Student Loans And Social Security - What Are Fafsa trainee Loans?

Fafsa stands for Free Application for Federal trainee Aid, and is the first step that any trainee applying for financial aid through a federal program. This program is managed through the division of Education.

Student Loans And Social Security

There are four basic types of trainee aid available: scholarships, grants, loans, and work-study awards. With a scholarship, the money that is awarded does not have to be paid back. Scholarships are given to students based on academics, athletics, music, art or other fields. Grants do not have to be paid back whether and are given based on financial need. Loans have to be paid back at definite interest rates. Work-study includes payments made to students who work on-campus to help pay for school costs.

The first step to applying for most of these programs includes filling out the paper work for the Fafsa, and this can be intimidating. You will need the following facts to complete the Fafsa.

o Student's collective protection Number

o Student's driver's license

o Student's W-2 Forms and other records of money earned (plus parent's/parents' W-2 forms if trainee is a dependent)

o Student's (and spouse's, if the trainee is married) Federal income Tax Return for the old year

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