Question 1

Can I get a Pell Grant if I have student loan debt?

Accepted Answer

Pell Grants are a type of federal award available to students with financial need. You can apply for a Pell Grant by submitting the Free Application for Federal Student Aid (FAFSA), and you may receive a grant based on your expected family contribution, your school's cost of attending, and other information.

Question 2

What is the difference between student loans and grants?

Accepted Answer

Student loans are a form of debt taken out to pay for college tuition and other education-related expenses. There are multiple types of student debt, including private student loans provided by a lender and federal loans that come from the federal government. After filling out the FAFSA, your aid package will likely include an option to borrow a certain amount from the government.

Question 3

Can you get grants if you have defaulted student loans?

Accepted Answer

Unfortunately, defaulting on your student loans makes you ineligible for federal aid, such as federal loans and Pell Grants. If you have defaulted in the past but consolidated your debt or otherwise gotten out of default, you will become eligible for federal assistance again.

While you won't be eligible for federal grants or aid if you're currently in default, you may still qualify for private grants. Most private grants to pay off student loans will still be available to you even if your loans are in default, though you should always check the eligibility requirements just to be sure.

Exclusive Grants to Pay Off Student Loans in 2023