Federal Grants are often referred to as "gift aid" because they are free money that does not have to be repaid. Almost all grants are awarded to students with financial need.
Federal Student Loans come from the Federal government and usually offer borrowers lower interest rates and flexible repayment options. Student loans may also come from private sources such as banks and lending institutions.
Student loans, unlike grants and work-study, are borrowed money that must be repaid, with interest. If you decide to take out a loan, you should understand the terms and conditions of the loan.
The Federal Work-Study Program provides part-time jobs for 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 and is available to full-time or part-time students.
If you are interested in receiving Federal financial aid, including student loans, you must complete the federal FAFSA application at fafsa.ed.gov