Applying for Federal Aid
Federal Student Aid
The U.S. Department of Education awards more than $120 billion a year in grants, work-study funds, and low-interest loans to more than 13 million students. Federal student aid covers such expenses as tuition and fees, room and board, books and supplies, and transportation. Aid also can help pay for other related expenses, such as a computer and dependent care.
Federal Student Loans
If you decide to finance some of your educational expenses through loans, the following government sponsored student loans should be first on your list of options:
FAFSA (Free Application for Federal Student Aid)
- Complete a FAFSA
- Complete the Federal required Entrance Counseling
Complete and e-sign the Federal required Master Promissory Note
Complete and e-sign the Federal required Plus loan application and Master Promissory Note
Federal Work-Study provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student’s course of study
Cohort Default Rate (CDR) Information
The U.S. Department of Education releases official cohort default rates once per year. A cohort default rate (CDR), for schools having 30 or more borrowers entering repayment in a fiscal year, is the percentage of a school’s borrowers who enter repayment on certain William D. Ford Federal Direct Loans (Direct Loans) and Federal Family Education Loans (FFELs) during that fiscal year and default (or meet the other specified condition) before the end of the second fiscal year following the fiscal year that the borrower entered repayment. The current CDR for Clark Atlanta University can be found here.