Loans
You pay this extra percentage when taking out a subsidized student loan.
What is 5%?
Highest possible credit score
What is 850?
Free money usually earned by grades or athletic ability!
What is a scholarship?
Money a college or university charges students to attend classes.
What is tuition?
If your college/university gives you this luxury for free, they're lit because you don't even need it!
What is cable?
You pay this extra percentage when taking out an unsubsidized loan?
What is 5%?
Lowest possible credit score
What is 300?
Money that comes from the government, usually based on residential status or financial need.
What is a grant?
These types of students avoid costly fees associated with living in dorms.
What are commuters?
Your financial aid award package may change if you choose to starve and go without one of these. (Although some schools may require them for first-year students.)
What is a meal plan?
Proper name for federal subsidized and unsubsidized loans
What is Stafford loan?
I have the biggest impact on your credit score!
What is payment history?
I am the number that tells you how much it REALLY costs to go to a school (college/university) all together.
What is the total cost of attendance?
DAILY DOUBLE!!!!
If this is included on your financial aid award letter you first need to find a JOB before you receive these funds.
What is work-study?
What you receive when you are awarded more financial aid than you need to cover mandatory fees like tuition and room and board
What is a refund check?
Bad credit beware - you won't qualify for this loan.
What is a PLUS loan?
I am another name for a credit score, named after one of the world's largest credit agencies!
What is FICO?
Sneaky charges that accompany tuition that may cover things like registration or technology
What are fees?
What is satisfactory academic progress?
You might want to ask if this is included in your room and board fees or if you'll need to cover this expense on your own....this is an expense you should NOT avoid.
What is laundry?
Sneaky, sneaky! We start racking up fees from the moment your money is disbursed.
What are unsubsidized loans?
I'm the REAL reason why young people start off with poor credit.
What is length of credit history?
I am the MOST IMPORTANT NUMBER to consider when reviewing financial aid although I am often not listed!
What is out-of-pocket cost, unmet need or GAP?
Important financial aid term referring to when funds awarded to you in financial aid are actually applied to your bill
What is disbursement?
DAILY DOUBLE!!!!!!
Unless you waive it (say you don't need it) or prove that you already have it, some colleges may charge you for this for your own safety and protection!
What is health insurance?