I know they are both federal loans but what makes them different? I have already applied and recieved acceptance for my fafsa but will I get more money if I apply for a Ford Loan?|||The FAFSA is merely a FORM from which the Department of Education assesses your eligibility for Federal Financial Aid. Yes, all FEDERAL and most STATE aid in the form of either grants or loans come from that form!
REPEAT: The FAFSA is a form that your FA Office will send to the DOE to see whether or not you are eligible for any grants or loans. Grants are NEED-BASED and never have to be paid back. Any LOANS you have to take out will go into repayment mode 6 months after you leave school or drop below 1/2 time.
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