There are many programs available to help you pay for your college education. The federal government offers grants, loans, and financial aid for those who qualify. Learn more about the types of aid and if you qualify for assistance.
Find more information in our frequently asked questions about financial aid and financial aid resources.
Explore important information about the student loan and grant process and how to navigate the resources available to you.
Learn how to complete the Free Application for Federal Student Aid (FAFSA) process.
Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. It is the foundation of your relationship with money, and it’s a lifelong journey of learning.
Choosing how to pay for your education and invest in your future is often one of the biggest financial decisions you can make. From saving personal funds, to applying for scholarships and borrowing student loans, these decisions will impact you beyond graduation. The more you know, the more prepared you’ll be.
For more information, explore the financial literacy resources from federal student aid for help navigating the financial aid process for your education.
Understand the consequences of becoming delinquent or defaulting on your student loan and the steps you can take to avoid it.
The U.S. Department of Education’s COVID-19 relief for student loans has ended. The 0% interest rate ended September 1, 2023, and payments restarted in October 2023.
Calculate your monthly income after taxes. This should include all sources of income, such as full- and part-time jobs, freelance work or consulting, and any other income sources.
Calculate your monthly expenses (not including student loans) and separate them into categories of needs versus wants. Examples of these can include:
Designate which expenses are the most important. Calculate your monthly essential expenses by adding up all of the needs category.
Deduct your monthly essential expenses from your monthly total income; the remainder is your discretionary income. Use this information to decide how much you can realistically afford to pay each month and which repayment plan (standard, graduated, income based, etc.) best fits your current situation.
Learn more about federal student loan repayment plans.
Finally, reevaluate your budget as your financial situation changes. A budget should be flexible and adapt as your lifestyle, income, and expenses change.
Have questions about taxes, education benefits, credit scores, or loans? Learn more through Purdue Global's Financial Aid TV.
