Financial Aid Terms
Application that is completed and submitted to the fed govt to determine if a student is eligible for funds to help pay for school
What is FAFSA?
This type of financial aid is awarded to student directly from the college/university
What is institutional aid?
This type of financial aid is based on need; does not have to be repaid
What are grants?
FAFSA is the acronym that stands for this...
What is Free Application for Federal Student Aid?
The three types of financial aid
What is Grants, Scholarships, and Loans
These costs may or may not change depending on the student’s financial decisions, while other costs stay the same
What are indirect costs?
This scholarship is awarded to GA students who have a minimum core GPA of 3.0 and can only be used for a GA institution
What is the HOPE Scholarship?
The 2024-2025 amount for Pell Grant
What is $7,395?
Maria subtracts the total she’ll be receiving in financial aid from her estimated cost of attendance to find . . .
What is a financial aid gap?
An opportunity to get an on-campus job and earn money toward the cost of attendance
What is work study?
This scholarship provides full tuition to GA residents who have a 3.7 or greater GPA and a score of at least a 1200 reading and math on the SAT or an ACT composite score of 26
What is Zell Miller Scholarship?
T/F: I can go to college with a 2.5 GPA
What is true?
After submitting her completed FAFSA, Katrina has an SAI of -1500. What is she eligible to receive from the fed govt (include name)
What is the Pell Grant?
This category of the cost of attendance would be impacted if Elijah decided to live off campus
What is room & board?
This type of loan accrues interest as soon as you accept the loan
What is unsubsidized loan?
I can’t get a scholarship unless I have all A’s
What is false?
The cost of attendance is made up of these 4 components
What is tuition, room & board, books & supplies, and other expenses?
This money is awarded to a student based on their academic achievements
What are merit based scholarships?
These are the “eligibility requirements” you should fit BEFORE you apply to a scholarship
What are good fit factors?
The amount of credit hours a student must be enrolled in to be considered a full-time student
What is 12 credit hours?