College & Finance
College & Finance
College & Finance
College & Finance
College & Finance
100
A list of the financial aid that schools can offer for a particular aid year
What is an award package?
100
A program that ensures that college students who really need money by providing part time jobs to students with financial need, allowing them to pay education expenses
What is Federal Work-Study (FWS)?
100
Financial aid from your college or career school.
What is college aid?
100
Under this program, private lenders provided loans to students that were guaranteed by the federal government.
What is a Federal Family Education Loan (FFEL) Program?
100
A federal student loan, made by the recipient's school, for undergraduate and graduate students who demonstrate financial need.
What is Federal Perkins Loan?
200
An official letter or notification from a school where you have been accepted, and outlines your financial aid award package
What is an Award Letter?
200
Amount of aid a school expects to pay a student based on the student’s current grant and loan eligibility, enrollment, Expected Family Contribution (EFC), and the school's cost of attendance.
What is award amount?
200
The total amount it will cost you to go to school—usually stated as a yearly figure. COA includes tuition and fees; room and board (or a housing and food allowance); and allowances for books, supplies, transportation, loan fees, and dependent care. It also includes miscellaneous and personal expenses, including an allowance for the rental or purchase of a personal computer; costs related to a disability; and reasonable costs for eligible study-abroad programs.
What is Cost of Attendance (COA)?
200
What is A federal student loan, made through the William D. Ford Federal Direct Loan Program, for which eligible students and parents borrow directly from the U.S. Department of Education at participating schools. Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans and Direct Consolidation Loans are types of Direct Loans.
What is a direct loan?
200
Financial aid from the federal government to help you pay for education expenses at an eligible college or career school. Grants, loans and work-study are types of federal student aid. You must complete the FAFSA to apply for this aid.
What is Federal Student Aid?
300
An application given by the College Board in the United States allowing college student to apply for financial aid
What is College Scholarship Service (CSS)?
300
a method of on-the-job training for white-collar and professional careers with no pay
What is an internship?
300
School year for which financial aid is used to fund a student’s education. Generally, this is the 12-month period that begins on July 1 of one year and ends on June 30 of the following year.
What is an award year?
300
A loan funded by the federal government to help pay for your education. The loan is borrowed money you must repay with interest.
What is a federal student loan?
300
A period of time after borrowers graduate, leave school, or drop below half-time enrollment where they are not required to make payments on certain federal student loans.
What is a Grace Period?
400
A term used in the college financial aid process in the United States to determine an applicant's eligibility for federal student aid
What is Expected Family Contribution (EFC)?
400
Free money to help pay for college or a career school
What are grants and scholarships?
400
A scholarship awarded to students based on strong academic abilities, leadership skills, artistic or musical ability, and athletic abilities
What is a Merit-based scholarship?
400
Financial aid, often based on financial need, that does not need to be repaid
What is a grant?
400
A nonfederal loan made by a lender such as a bank, credit union, state agency, or school.
What is a private loan?
500
A loan that allows parents/guardians to borrow money at low interest rates directly from the federal government
What are federal loans?
500
The form used by the U.S. Department of Education to determine your Expected Family Contribution by conducting a “need analysis” based on financial information, such as income, assets and other household information, which you will be asked to provide.
What is Free Application for Federal Student Aid (FAFSA)?
500
This is the amount of a student's total cost of attendance that isn't covered by the expected family contribution or outside grants and scholarships.
What is Financial Need?
500
Money awarded to students based on academic or other achievements to help pay for education expenses. They generally do not have to be repaid.
What is a scholarship?
500
The "sticker price" of your education, and does not include room and board, textbooks, or other fees.
What is tuition?
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