FAFSA & FEDERAL AID
This is the application students must complete to be eligible for federal financial aid.
What is the FAFSA?
This type of financial aid is awarded based on a student’s academic achievements, talents, or athletic ability.
What is a scholarship?
The type of aid that requires repayment, with interest, after you leave school.
What are student loans?
The program that allows students to earn money for college expense through part-time work, often on campus.
What is Federal Work-Study?
This is the general term for all expenses related to attending college, including tuition, fees, housing and more.
What is the cost of attendance (COA)?
This is the date when FAFSA opens this year.
What is December 1st?
A type of financial aid typically awarded to students based on financial need.
What is a grant?
The type of federal loan that does not accrue interest while a student is enrolled at least half-time.
What is Direct Subsidized Loan?
This is the maximum number of hours students can typically work per week in a Federal Work-Study job.
What is 20 hours?
This type of expense, such as textbooks and transportation, is not billed directly by the college but still affects the cost of attendance.
What are indirect costs?
The federal aid program provides part-time employment to students with financial need.
What is Federal Work-Study?
Scholarships based on this characteristic often require students to maintain a certain GPA to keep their award.
What is merit?
The type of federal loan that accrues interest as soon as the loan is disbursed.
What is a Direct Unsubsidized Loan?
Work-study jobs can take place here, benefiting students who are also trying to balance academic responsibilities.
What is on-campus?
This fee is often charged to new students to attend a week long event the summer before school begins.
What is the new student orientation fee?
The acronym for the formula-based index number ranging from –1500 to 999999
What is the SAI (Student Aid Index)?
This is a federal grant program for teachers that requires recipients to teach in low-income schools after graduation.
What is the TEACH Grant?
Parents of undergraduate students can apply for this federal loan to help cover college expenses.
What is a Parent PLUS loan?
Scholars can work anywhere in the community surrounding their college/university campus as long as it is an approved work-study site.(True/False)
What is a true statement about Work-Study?
The term for the dollar amount after all gift-aid has been calculated.
What is the net price?
This type of federal grant is awarded to undergraduate students with significant financial need.
What is Pell Grant?
This is a private scholarship that is a highly selective, last-dollar scholarship for outstanding, minority, high school seniors from low-income households.
What is the Gates Scholarship?
This is the length of time you have before you have to start repaying federal student loans after graduation or dropping below half-time enrollment.
What is a 6-month grace period?
This is a common requirement for students to qualify for Federal Work-Study, related to their financial situation.
What is demonstrated financial need?
The total amount of tuition and fees for students, offering differing for in-state and out-of-state scholars at public universities.
What is the sticker price?