Principia College is now accepting FAFSA (Free Application for Federal Student Aid) which can support many students on campus. Through FAFSA, domestic students can receive financial help with their Prinbills. 

One major benefit of FAFSA is the Pell Grant, which is a federal grant that does not need to be repaid. Students can receive up to more than $7,000, which may be used for school or personal expenses related to school, according to the federal website. The amount awarded depends on the student’s family income level. For example, a single-person household earning under $15,000 may qualify for about $5,000. Medium-income households fall between the minimum and maximum award levels.

FAFSA also offers student loans with lower interest rates than private lenders. The current interest rate is 5%, and repayment options are more flexible. Students may qualify for income-driven repayment plans and, in some cases, loan forgiveness programs. To qualify for forgiveness, borrowers must meet employment and program requirements, such as having held a full-time job in an eligible field.

Another option through FAFSA is the federal work-study program. Eligible students (whether undergraduate, graduate, or professional) can earn money through part-time jobs to help cover educational expenses. Work opportunities may be on or off campus, in the community, or even in a student’s field of study. These positions are designed to be flexible so students can balance work with their academic schedules.

Domestic students can apply free on the FAFSA website. International students who are interested in financial aid still need to work directly with Principia.