What is a Work Study Loan?
College students in need of financial assistance can access the work-study programme, which is financed by the federal government and occasionally the states.
It helps students who qualify, but it won’t pay all of your education expenses; you’ll also need a combination of personal savings, scholarships, grants, and student loans.
Your resource for financial aid
According to a manager of the state scholarship programme, “Work experience at any level while you’re in college is going to be beneficial.”
Federal work-study FAQ
- To be eligible, you must complete the Free Application for Federal Student Aid (FAFSA).
- Typically, it is the responsibility of the student to find their own work-study positions. You are not necessarily assured employment just because your financial aid award indicates that you are eligible for work-study.
- The U.S. Department of Education estimates that 3,400 colleges and universities participate in the federal work-study programme, but not all of them do. To find out if the colleges you’re interested in offer work-study, contact their financial aid offices.
How to apply for federal work-study
Select the option on the FAFSA that says you want to be taken into consideration for work-study when you’re filling it out. Because some financial aid is distributed on a first-come, first-served basis, you should submit the FAFSA as soon as you can.
By choosing this option, you are not obligated to accept work-study if it is offered, nor does it ensure that it will be included in your financial assistance package.
You will receive a financial aid award indicating the amounts you are qualified for from loans, grants, and work-study within a few weeks or months of submitting the FAFSA. Based on available finances, student financial need, and other financial help a student may be qualified for, colleges determine how much work-study money to grant.
Although your financial aid award letter may indicate that a specific amount, such as $5,000, has been designated for work-study, this does not guarantee that you will receive it. Find a job that qualifies for work-study funding, and then put in the hours necessary to reach that income.