Question : What is the difference between Ford loans and FAFSA?
I know they are both federal loans but what makes them different? I have already applied and recieved acceptance for my fafsa but will I get more money if I apply for a Ford Loan?Also will the ford loan be more expensive than FAFSA?
- asked by BookJunkie
All Answers:
Answer #1
The FAFSA is merely a FORM from which theDepartment of Education assesses your eligibilityfor Federal Financial Aid. Yes, all FEDERAL andmost STATE aid in the form of either grants orloans come from that form!REPEAT: The FAFSA is aform that your FA Office will send to the DOE tosee whether or not you are eligible for any grantsor loans. Grants are NEED-BASED and never have tobe paid back. Any LOANS you have to take out willgo into repayment mode 6 months after you leaveschool or drop below 1/2 time.
- answered by deliriousgirl
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