Student financial aid in the United States is funding that is available exclusively to students attending a post-secondary educational institution in the United States. This funding is used to assist in covering the many costs incurred in the pursuit of post-secondary education. Financial aid is available from federal and state governments, educational institutions, and private organizations. It can be awarded in the form of grants, loans, work-study, and scholarships. In order to apply for federal financial aid, students must first complete the Free Application for Federal Student Aid (FAFSA). The financial aid process has been criticized for its part in enrollment management, whereby students are awarded money not based on merit or need, but on what the maximum the student families will pay. Types of financial aid Grants In the United States, grants come from a wide range of government departments, colleges, universities or public and private trusts. Grant eligibility is typically determined by financial need. The application process is set by the agency providing the funds and often relies on data submitted via the FAFSA. While the terms grant and scholarship are frequently used interchangeably, there is a difference. Scholarships may have a financial need component, but rely on other criteria as well. Some private need-based awards are confusingly called scholarships, and require the results of a FAFSA (the family's EFC). However, scholarships are often merit-based, while grants tend to be need-based. Some examples of grants commonly applied for in the U.S.: Federal Pell Grant, the largest of the federal grant options and based exclusively on an individual's Expected Family Contribution as calculated using the FAFSA data. Federal Supplemental Educational Opportunity Grant (FSEOG), federal grant program that is need-based, but directed towards students whose FAFSA results exhibit exceptional financial need, such as being among the lowest Expected Family Contribution (EFC). The Teacher Education Assistance for College and Higher Education (TEACH) Grant requires you to take certain classes in order to get the grant, followed by performing a specific job, sometimes in a specific location, to keep the grant from becoming a loan. Institutional Grants, grants provided by educational institutions. Some institutional grants are based on academic achievement (merit awards or merit scholarships), while others are based on financial need, and some are a combination of the two. Private and Employer Grants, grants provided by the private sector, for students who meet specific criteria for eligibility related to the private