Over the next few months, many students who graduated or left school in the spring of 2012 will reach the end of their grace period and start repaying their student loans. Now is a great time to brush up on the basics of student loans.

Financial aid comes in many forms. Grants and scholarships are often called “gift aid” because they don’t have to be repaid. Another form of financial aid is work-study.  Federal Work-Study provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses.

Student loan repayment season is nearing, and recent college graduates may be trying to understand the different types of repayment plans, and which ones may be best for them.  Let’s explore what repayment plans exist for federal student loans, and how they differ.

I recently separated from the Navy after 10 years of active duty service. Shortly after separation, I decided to go back to college. I knew that I had Post 9/11 GI Bill benefits that I could use, but there were a few things I didn’t know.