Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 3413 There are four types of financial aid—grants, scholarships, work-study, and loans. Grants Grants are most often awarded to students with financial need. Since they do not have to be repaid, students should try to get as much grant money as possible. Grants are available from the following sources: u The federal government awards Pell Grants, TEACH Grants, and Supplemental Educational Opportunity Grants. u State governments offer grants to students who live and attend college in their home state. u Colleges, organizations, clubs, churches, and corporations award grants and scholarships to deserving students. Pell Grant The Pell Grant is a federally funded grant that provides billions of dollars each year to lower-income families. The Pell Grant is available to students in all states, and it can be used to pay for college expenses at any accredited college. The Pell Grant is a large part of many financial aid packages. When parents and students submit a FAFSA, they automatically apply for a Pell Grant. The maximum Pell Grant award for 2016-2017 is $5,815. TEACH Grant TEACH grants are available to education majors who agree to teach in a high-need field in schools that serve low-income students. This grant is not need-based, but students must file a FAFSA. To be eligible, students must meet certain academic requirements and plan to complete the coursework necessary to teach. Part III Types of Financial Aid