University Park, Pa. — The Office of Student Aid reminds Penn State students and their families that it is not too late to apply for federal student aid for the current academic year (2008-09).
Federal Pell Grants, Federal Direct Student Loans and Federal Direct Parent Loans (PLUS) are all available to those who qualify. These sources of student aid have not been affected by the economy, but it is recommended that students apply as soon as possible if assistance is needed to help with payment of spring semester tuition and other education expenses.
Student loans and grants will not cover the full costs but will help reduce them. Parent Loans can cover full costs if needed. Both student and parent loans are low-interest loans and repayment may be deferred until students cease enrollment.
The Office of Student Aid recognizes that in these challenging economic times, many students who have not previously needed assistance might now need to seek help. Students and parents can learn more about these programs and can review the eligibility criteria and the steps to apply for student aid by going to the Office of Student Aid Web site at http://www.psu.edu/studentaid.