FAFSA
Short for Free Application for Federal Student Aide
FAFSA
Signed agreement to pay back a student loan
Promissory note
Takes into consideration your annual income and family size
Income-Based
Free money you do not have to pay back
Scholarships & Grants
1st President on the $1 bill and quarter
George Washington
Best time to submit application
October
Interest rate that does not change
Fixed interest rate
Designed to be paid off within 10 years
Standard
Eligible for a job on campus
Work-study
3rd President on the $2 bill and nickel
Thomas Jefferson
Schools use the FAFSA to determine this
Amount of financial aid
Pause payment and interest may be paid by the government with eligibility
Deferment
Payments are lower in the beginning then increase every two years
Graduated Plan
Based on merit/achievements
Scholarships
16th President on the $5 bill and penny
Abraham Lincoln
Resource person that helps with the application process
College & Career Counselor
Interest will continue to accrue
Forbearance
Multiple student loans into one payment
Consolidation
True or False: It is possible to get multiple grants at one time.
False
32nd President on the dime
Franklin D. Roosevelt
Parents are required to submit these documents
Federal income tax returns
No longer eligible to receive this loan as a graduate
Direct Subsidized
Full payment is required & is not eligible for forgiveness
Private Loans
A 2.5 GPA is required for this in-state scholarship
New Mexico Lottery
35th President on the 50-cent coin
John F. Kennedy