Whats the best source of financial aid?
The Federal government is the largest single source of financial aid, providing 67% of all direct aid dollars-70% in the form of loans with either subsidized or fixed, low APRs. Generally, Federal loans offer the lowest APRs out there and are available to both students and parents. So always exhaust all Federal aid options before applying for private student loans. To apply for Federal aid, complete the Free Application for Federal Student Aid (FAFSA) at fafsa.ed.gov early in January for every year of school.