Show Me The Money
What are loans taken by a parent to pay for a child's education?
Parent PLUS Loans
What types of costs are directly billed to a student by Universities?
Direct Costs
What is the Free Application for Federal Student Aid?
FAFSA
Who is eligible for Federal Aid?
Every U.S. citizen or eligible noncitizen going to school
What is included in the Cost Of Attendance?
Direct Costs PLUS estimate of indirect costs
A loan where the interest rate can increase over time.
Graduated Loan
A temporary pause on loan payments where interest may still accrue.
forbearance
What is an interest rate that changes based on Income?
Income Based Loans
A college savings plan sponsored by a state.
529 Plan
What is the cost of the FAFSA
Free
The percentage charged on borrowed money.
Interest Rate
Time after leaving school before you must start repaying a loan.
grace period
How often do you need to apply for the FAFSA
Yearly
It is need-based, but must be earned through a job.
Federal Work Study
The original amount of money borrowed or saved.
Principal
Temporary pause on loan payments that may be interest-free.
Deferment
When does the FAFSA become available?
October 1st