The "Need to know"
A type of financial aid based on financial need that the student does not have to repay.
Grants
College admission process that is similar to early decision, but it is not a binding commitment to attend a college.
Early Action
Students who apply commits to enroll to college/university if admitted and offered financial aid package (scholarships, grants)
Early Decision
A student or trainee who works, sometimes without pay, in order to gain work experience or satisfy requirements for a qualification.
Intern
True or False:
Its not important to do community service before college; Nothing in this world is free
FALSE!!!
Financial aid that must be repaid, with interest.
Loan
Temporary postponement or reduction of loan payments that s typically granted at the discretion of the lender.
Forbearance
Overall average of students grades across ALL courses taken in academic career.
Grade Point Average GPA
Completion awarded to students who compete a program of study offered in a short period of time & in a specific field.
Certificate
True or False:
If you have graduated with a MASTERS degree, you are an UNDERGRADUATE
FALSE!!!
Associates & Bachelors= Undergraduate
Masters & Doctorate=Graduate
A federal program providing undergraduate and graduate students with part time employment during school year.
Work Study
Enrolled in Master's or Doctorate program at a college.
Graduate Student
the cost of borrowing money; Repaid in addition to the principal of the loan
Interest
Secondary or postsecondary educational pathway that provides students with hands on training while preparing them for an occupation upon graduation.
Career & technical Education (CTE)
True or False:
Grants and scholarships are not to be paid back
Loans are to be paid back
True!!!!
Private lenders to supplement the student and parent education loan available from federal and state governments.
Private Loans
A loan for which the government does not pay the interest; In shorter terms, this loan will accrue interest WHILE you are still in school and if you wait until you graduate to pay back, you WILL be in debt!
UNsubsidized loan
A loan where the government pays the intereston the loan while the student is still in school; Awarded based off of financial need.
Subsidized Loan
a fixed regular payment, typically paid on a monthly basis but often expressed as an annual sum, made by an employer to an employee
Salary
GPA only calculates grades from your Junior and Senior year
FALSE!!! GPA calculates all grades from 9th-12th grade
Federal grant that provides funds based on the student's financial need. This does not have to be repaid.
PELL Grant
Amount borrowed by the student BEFORE interest is charged.
Principle
When borrower fails to make scheduled loan payments for a period of 270 days or longer.
Default
An individual who creates a new business, bearing most of the risks and enjoying most of the rewards
Entrepreneur
Instate tuition and out of state tuition are the same prices.
FALSE!!! In State and Out of state tuition costs are different!!!