GBHS Guidance Office

To be considered for federal student aid programs, i.e. Pell Grant, Stafford Loan, etc., students and parents must compete a Free Application for Federal Student Aid (FAFSA) either electronically or on paper. Students do not have to pay for submitting a FAFSA. To complete the FAFSA, students need copies of their income tax returns and their parents' returns, W-2 forms, current bank statements, and records of any stocks, bonds, and other assets.

A demonstration site is available so students and parents can increase their understanding of FAFSA on the Web and/or show it to students and parents before they apply online. At the site, you can complete a sample FAFSA, make corrections, check the status of the application, and sign it electronically. However, when you choose "submit", the information is not actually submitted. The site is purely a learning tool. To access this site go to http://fafsademo.test.ed.gov . The user name is eddemo, and the password is fafsatest. The site displays both the English and Spanish versions of FAFSA on the Web.

Internet address for online application: www.fafsa.ed.gov

Prior to completing the online FAFSA, students and parents must each obtain a PIN, which is used as the electronic signature. The PIN must be requested online at www.pin.ed.gov . The PIN remains valid indefinitely and can be used at Corrections on the Web and in the future when the student applies again or wants online information about his or her financial aid history.

Federal Student Aid Program	Type of Aid	Program Details	Annual Maximum Award Limits
Federal Pell Grant	Grant: does not have to be repaid	Available almost exclusively to undergrads;	Approximately $4,050 -- amount will depend on program funding
Federal Supplemental Educational Opportunity Grant (FSEOG)	Grant: does not have to be repaid	For undergrads with exceptional financial need; priority is given to Pell Grant recipients; funds depend on availability at school	$4,000
Federal Work Study	Money is earned while attending school; does not have to be repaid	Jobs can be on campus or off campus; students are paid at least minimum wage	No annual maximum
Federal Perkins Loan	Loan: must be repaid	Five percent loan; payment is owed to the school that made the loan	$4,000 for undergraduate students; $6,000 for graduate students
Subsidized FFEL or Direct Stafford Loan	Loan: must be repaid	Subsidized: U.S. Dept. of Education pays interest while borrower is in school	$2,625 to $8,500, depending on grade level
Unsubsidized FFEL or Direct Stafford Loan	Loan: must be repaid	Unsubsidized: borrower is responsible for interest during life of loan	$2,625 to $18,500, depending on grade level
Federal PLUS Loan	Loan: must be repaid	Available to parents of dependent undergraduate students	Cost of attendance minus any other financial aid the student receives