First-generation financial aid programs aim to provide financial assistance, encourage higher education, and help students overcome challenges associated with being the first in their families to attend college.

Loans are not typically considered first-generation financial aid, as they require repayment.

Scholarships are awarded based on academic achievement or other criteria, while grants are awarded based on financial need.

The Pell Grant, FSEOG, and ACG are all federal grant programs available to first-generation college students.

The maximum Pell Grant award for the 2022-2023 academic year is $6,495.

Being a member of a minority group is not typically an eligibility requirement for first-generation financial aid programs.

Work-study programs provide students with part-time employment opportunities, help them develop job skills, and allow them to earn money to help pay for college expenses.

Feeling a sense of belonging is not typically a challenge faced by first-generation college students.

First-generation college students can learn about financial aid opportunities by talking to their high school guidance counselor, visiting the financial aid office at their college or university, and conducting online research.

The deadline for submitting the FAFSA is March 1st.

The Perkins Loan is not a type of federal student loan.

The interest rate on a Direct Subsidized Loan for the 2022-2023 academic year is 3.73%.

The maximum amount of money a student can borrow in federal student loans per year is $12,500.

The grace period for federal student loans is 6 months.

The Income-Based Repayment Plan is not a common repayment plan for federal student loans.