Loaned Financial Aid
What is 5 years?
What is a grant?
This is the type of information that students must provide on the FAFSA to determine their eligibility for financial aid.
What is personal and financial information?
This type of expense includes costs for books and supplies needed for classes.
What are educational supplies?
This document helps students track income and expenses to avoid overspending during college
What is a budget?
The maximum amount that a dependant undergraduate students can borrow in a subsidized loan during their first year of college.
What is $3,500?
A sum of money awarded to students by private organizations.
What is a private scholarship?
This federal program provides financial assistance to students based on their financial need as determined by the FAFSA.
What is the Pell Grant?
This term refers to the costs associated with living off-campus, such as rent and utilities.
What are housing expenses?
This is the recommended percentage of income to allocate for savings.
What is 20%?
This type of loan accrues interest while the student is still in school.
What is a Direct Unsubsidized Loan?
This type of financial aid program allows students to work part-time while attending school, helping to cover educational expenses without the need for repayment.
What is a work-study program?
a form filled out by a high school graduate to get financial aid for college
what is the FAFSA?
This expense category includes costs for transportation to and from campus.
What is transportation?
This term refers to unexpected expenses that can disrupt a budget.
What are emergency expenses?
A student loan that does not accrue interest while the borrower is in school.
What are subsidized loans?
a type of scholarship awarded for great academic, artistic, or athletic achievments
What are merit based scholarships?
This is the term for the financial aid package that includes loans, grants, and work-study opportunities based on FAFSA results.
What is a financial aid award letter?
This type of expense can include personal items and entertainment costs while attending school.
What are personal expenses?
This budgeting method allocates funds from various categories based on expected income and expenses, often using a zero-sum approach to ensure every dollar is assigned.
What is Zero-Based budgeting
A federal limit to how much money can be loaned to students in college that differs per year.
A student gets a scholarship from a private organization for being a member of the LGBTQIA+ comunity this scholarship would fall under this catagory.
What is a diversity scholarship?
This is the deadline for submitting the FAFSA for most states to qualify for state aid.
What is June 30?
This is the term for the total estimated price of attendance, including both direct and indirect expenses.
What is the cost of attendance (COA)?
This debt repayment strategy prioritizes paying off debts with the highest interest rates first to minimize overall interest paid.
What is the avalanche method?