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(Grants)
(Grants)
This level of student is not eligible for a Pell Grant or FSEOG
What is a graduate student?
This campus-based program requires financial need, but does not require prioritization of highest need students
What is Federal Work Study?
The minimum enrollment level required to borrow Federal Direct Loans
What is half time?
This is the name for a summer term which a school treats as the last term in a SAY (Standard Academic Year)
What is a trailer?
This item does NOT need to be reported to the student's loan servicer upon completion of school-provided exit counseling
1) Borrower's Name
2) Borrower's city and state of birth
3) Borrower's driver's license number and state of issuance
4) Borrower's next of kin
What is 2) Borrower's city and state of birth?
This grant turns into a Federal Direct Unsubsidized Loan if certain requirements are not met
What is the TEACH Grant?
The basic need equation is used to calculate Financial Need
What is Cost of Attendance (COA) - Student Aid Index (SAI)?
A need-based loan only available to undergraduate students
What is a Federal Direct Subsidized Loan?
The number of months a SAY (Standard Academic Year) is based on
What is nine months?
This type of Federal Direct Loan borrower does not have to complete entrance counseling
1) Parent first time borrower (Parent PLUS)
2) Undergraduate student first time borrower (Subsidized/Unsubsidized)
3) Graduate student first time borrower (Graduate PLUS)
What is 1) Parent first time borrower (Parent PLUS)?
This campus-based program has awards ranging from $100 -$4,000 and prioritizes Pell Grant recipients
What is FSEOG?
This need-based financial aid is available to both undergraduate and graduate students
What is Federal Work Study (FWS)?
These PLUS loan borrowers have additional counseling requirements
Who are parents or graduates with adverse credit history?
Summer modules are combined and treated as a single term in this academic year type
What is a BBAY (Borrower Based Academic Year)?
This type of student is not subject to Federal Direct Loan Proration
1) Undergraduate students in a program shorter than one Academic Year (AY)
2) Graduate students in their final period of enrollment when it is shorter than one AY
3) Undergraduate students in their final period of enrollment when it is shorter than one AY
What is 2) Graduate students in their final period of enrollment when it is shorter than one AY?
Dependent student's parent(s) or independent students who were not required to file taxes are automatically given these two things
What is -1500 SAI and Maximum Pell?
This calculation uses information provided on the FAFSA to calculate a standard SAI to be used for all periods of enrollment
What is the Federal Methodology?
This is the Graduate Aggregate Loan Limit
What is $138,500?
Cost of Attendance (COA) cannot be expanded to include costs of other family members, except in this case
What is dependent care?
This item is NOT part of the Basic Cost of Attendance Components
1) Tuition and Fees
2) Transportation
3) Miscellaneous Expenses
4) License, Certification or Credential
What is 4) License, Certification or Credential?
This is the percentage of full time enrollment at which a student is enrolled, rounded to nearest whole percent
What is Enrollment Intensity?
The acronym FSEOG stands for this
What is Federal Supplemental Educational Opportunity Grant?
The 1.057% or 4.228% deducted from each Federal Direct Loan disbursement
What is a loan origination fee?
In student budget construction, costs can be divided into these TWO broad categories
What are Institutional and Non Institutional costs?
This factor does NOT impact Pell Grant amount:
1) Enrollment Intensity
2) Available Funding
3) Program Length
4) Cost of Attendance
What is 2) Available Funding?