Title IV Financial Aid

title ivTitle IV of the Higher Education Act of 1965 covers the administration of federal student aid programs. Title IV Financial Aid is, thus, another term for federally funded financial aid. The aid options that fall under this heading include Federal Pell Grants, Federal Stafford Loans, Federal Perkins Loans, Supplemental Educational Opportunity Grants and Subsidized and Unsubsidized Direct Loans.

With the increasing costs of education, many students find pursuing higher education unaffordable. In fact, a great number of students apply for financial aid each year. To accommodate such students and to ensure that they are able to fulfill their academic dreams, the federal government provides a number of aid options in the form of Title IV financial aid. The aid comes in many forms, the most popular of which are grants, loans and work-study programs. All the grants offered by the federal government are essentially gifts of money and do not have to be paid back. However, loans must be repaid. Even so, federal student loans have very flexible repayment terms and low interest rates, making them easy for most students to pay off.

student on financial aidTo begin the Title IV financial aid process, students must submit the FAFSA, or Free Application for Federal Student Aid. This form can be found online at fafsa.ed.gov. The information that students provide on the FAFSA will help universities gauge their financial need so that an aid package can be awarded to each individual student according to their specific financial situation.

For many students, the aid packages offered by schools are sufficient to cover many of their educational expenses. However, in some cases, students will find that the aid packages offered to them are not adequate to cover all their financial requirements. If you find yourself in such a situation, you can always opt for private student loans. These loans have lenient eligibility criteria and are great alternative options when all other aid sources have been exhausted. However, you must be aware that these loans may have higher interest rates and stricter repayment terms than federal student loans. Therefore, when considering private student loans, you must conduct a thorough search to find the one best suited for you. To help you in what can turn out to be a very tedious process, we have created a Student Loan Comparison Tool. This tool will help you find and compare various private student loans. It’s free, easy to use, fast and could save you thousands!

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