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Title IV of the Higher Education Act of 1965, establishes general rules that apply to the student financial assistance programs. It is one of the largest source of postsecondary funding from the federal government. The Title IV program includes: Federal Family Education Loan (FFEL), Direct Loan, Federal Perkins Loan, Federal Pell Grant, Academic Competitiveness Grant (ACG), National SMART Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work-Study (FWS).

Purposes
Title IV program supports postsecondary education to eligible students by providing:
 * 1) Federal Pell Grant
 * 2) Federal Supplemental Educational Opportunity Grants to students who demonstrate financial need.
 * 3) Payments to the States to assist them to make financial aids available to students who need financial support.
 * 4) Special programs to encourage and prepare for students from low-income families for postsecondary education.
 * 5) Providing assistance to institutions of higher education.

Categories
Title IV program contains loans, grants and Federal work study.

Loans
Loan is the financial aid must be repaid.
 * Direct loans (including Stafford loans and PLUS loans): the funds come directly from the federal government. Direct loans could be subsidized direct loans or unsubsidized direct loans.
 * Federal Family Education Loans (FFEL) : the funds come from a private financial institution. FFEL loan could be subsidized loans or unsubsidized loans. The federal government pays interest on subsidized FFEL loans while the student is in school.
 * Federal Perkins Loans: are made by participating schools to undergraduate and graduate or professional students with financial need. Loans are made from eligible schools' revolving funds that consist of repayments made from previous borrowers and additional federal funds.

Grants
Grant is the financial aid does not have to be repaid
 * Federal Pell Grant are awarded only to undergraduate students or to limited number of students enrolled in post-baccalaureate teacher certificate programs. [Federal Pell Grant] can be used at any school.
 * Academic Competitiveness Grant (ACG) are awarded to students of first and second years, who are U.S. citizens, have completed a rigorous high school academic program, and receive a Pell Grant in the same academic year.
 * National SMART Grant are awarded to third and fourth year students, who receive the Federal Pell Grant and major in physical, life, or computer sciences; mathematics, technology, or engineering; or in a foreign language determined critical to national security.
 * Federal Supplemental Educational Opportunity Grant (FSEOG) are awarded to undergraduate students with exceptional financial need. Awards may also be available to non-Pell recipients with exceptional financial need.

Federal Work Study
Federal Work Study is the program provides jobs for students who need help to pay for the tuition. The federally subsidized part-time jobs are for full-time and part-time undergraduate and graduate students, FWS jobs may be on or off campus.

Eligibilities

 * Eligible Institutions
 * 1) Institution of Higher Education
 * 2) Public or Private Nonprofit Institution Located in U.S. or Its Territories
 * 3) Proprietary Institution of Higher Education
 * 4) Private, For-Profit Institution Located in U.S. or Its Territories
 * 5) Postsecondary Vocational Institution
 * 6) Public or Private Nonprofit Institution Located in U.S. or Its Territories
 * Eligible Programs
 * 1) Associate’s, Bachelor’s, Graduate or Professional Degree.
 * 2) At least a two-year program that is acceptable for full credit toward a Bachelor’s degree.
 * 3) At least a one-year program that leads to a credential and prepares students for gainful employment in a recognized occupation proprietary institution of higher education.
 * 4) All eligible programs must provide training for gainful employment in a recognized occupation and at least one of the following programs of study:
 * At least 15-week undergraduate program (600 hours or 16 semester or 24 quarter credits)
 * At least 10-week program (300 hours or 8 semester or 12 quarter credits) at graduate level
 * At least 10-week undergraduate program (300-599 hours) that admits students without associate’s degree and that has verified completion and placement rates of at least 70%, has been in existence for at least one year, and meets certain program length.
 * Eligible Students
 * 1) Must qualify to obtain a college or career school education and be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program.
 * 2) Must be U.S citizen or have a green card.