Federal Loans for Graduate Students

Maybe you graduated from college several years ago but feel the need to return as a graduate student to enhance your career or to set your career on a different road. Maybe you have just graduated from college and are opting to continue your education now instead of later. Either way, you are to be congratulated for choosing to continue your education.
Funding for graduate students is available from several sources but the most inexpensive source of money remains the federally funded student aid programs. There are several options for graduate students within these programs.
The campus-based aid program actually encompasses three different types of graduate funding. The one discussed here is the Federal Supplemental Educational Opportunity Grant (FSEOG). These funds are disbursed to the schools and are disbursed through the financial aid office of your graduate school. Your school may or may not have this particular option available through the financial aid office but it should have one of the campus based options available to you. Usually a school will have one of three options available but not all of the three. You will need to spend some time in the financial aid office to find out which campus based aid options they offer and which will best suit your needs.
These programs are based on the financial needs of the individual student. The school will note how much you have received through other sources and how much is available per individual through the funds provided to the school. Instead of disbursing the monies to every student, the campus based funds allots a certain amount of money to each school to be divided based on the number and need of the students applying for the money.
The FSEOG provides funding for graduate students who are in the deepest financial need. This is a grant and it will not have to be paid back. The applicant for this money may receive anywhere from $100.00 to $4,000.00 for the school year. The amount you are eligible for will depend on when you applied for the money, how much money you need, how much was funded to the school you attend, and whether or not you meet the requirements of the financial aid policies of the school.
Since this grant money is already funded through your school, the school will issue the funds to you once or twice a year and/or credit your account directly depending on the method established by school financial aid policies. With the backing from the FSEOG money, you will be able to concentrate on furthering your education instead of worrying about how to pay your tuition.

Source : http://www.feded.net/federal-loans-for-graduate-students#