Definition of...
Need to know abbreviations
Random Questions
Random Questions Part 2
Calculate it
100
grant
money given to an individual for a specific purpose that does not need to be paid back
100
FAFSA
free application for federal student aid
100
What is the difference between a subsidized loan and unsubsidized loan?
Unsubsidized loans start accumulating interest as soon as the loan is taken out whereas the government pays the interest on subsidized loans until after the borrower graduates. 
100
Name 3 Ivy League Colleges 
What is Harvard, Yale, Princeton, Brown, Columbia, Cornell, Dartmouth, University of Pennsylvania?
100

If the cost of attendance is $18,850 and the expected family contribution is $2,000 how much is the demonstrated need?

$16,850
200
Scholarship
a sum of money awarded to an individual on the basis of an achievement that does not need to be paid back
200
EFC
estimated family contribution
200
What is a merit scholarship?
A scholarship earned based typically on academics, athletics, or artistic. 
200
Out of "grant", "scholarship", and "loan" which is great money and which is not-so-great money?
Great money: Grant, scholarship

not-so-great money: loan 

200

If the cost of attendance is $26,480 and the expected family contribution is $10,680 how much is the demonstrated need?

$15,800
300
Loan
a sum of money that was borrowed and needs to be paid back
300
COA
cost of attendance
300
What is the current student loan debt at in America?
$1.48 trillion 
300
What makes a direct PLUS loan/ Parent PLUS loan different from other loans?
they're the only federal student loans that require a credit check.
300

If the cost of attendance is $36,850 and the expected family contribution is $10,680 how much is the demonstrated need?

$26,170
400
Deferment of a loan
a period of postponement during which the repayment of a loan principal is suspended because the borrower meets one or more deferment requirements
400
How is demonstrated need calculated? 
subtract your estimated family contribution from your total cost of attendance
400
What is "free money"?
money that does not need to be paid back
400

If the cost of attendance is $68,920 and the expected family contribution is $15,260 how much is the demonstrated need?

$53,660
500
demonstrated need 
the difference between your expected family contribution and the total cost of attendance
500
What is a demonstrated scholarship?
great grades and strong standardized tests scores that make it easier to get merit scholarships 
500
what is the "grey zone"?
the area where those who earn too much to qualify for need-based aid but not enough to pay for a college's sticker price fall.
500

If the cost of attendance is $59,735 and the expected family contribution is $13,487 how much is the demonstrated need?

$46,248
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