Loans on Loans on Loans
What type of loan can you qualify for regardless of income or financial need?
Unsubsidized loans.
What type of financial aid must always be paid back?
College or University? : Typically has a large student body size.
University
Liberal Arts College
What type of school is funded through private endowments.
Private School
What is the name for an interest rate that does not fluctuate or change?
Fixed interest rate.
What is the name for the type of financial aid that you must have a part time job, on campus, to receive?
Work-Study.
College or University: Held to standards of accreditation.
Both
Typically does not offer on campus housing
Community College
What is the difference between sticker price and net price?
Sticker price = advertised price
Net price = cost after aid
What type of loan do you qualify for based on financial circumstance?
Subsidized loan
What are the two types of financial aid that are considered "free money" and do not have to be repaid?
Scholarships and Grants
College or University: Offers an Associates Degree.
College.
Provides hands-on training
Trade/Technical School
This type of school has a more expensive sticker price, however, typically gives out larger scholarships.
Private
What is the name for an interest rate that may increase or decrease at any time?
Variable interest rate.
Grants or Scholarships? : Which is typically awarded based on financial need?
Grants
College or University : Provides more research opportunities.
University.
Flexibility and interdisciplinary courses are more accessible at Liberal Arts Colleges. What does interdisciplinary mean?
Mixes two or more content areas/ areas of study.
State Schools are always what type of school?
Public
What type of loan does not accrue interest while you are still a half or full time student?
subsidized loan
Grants or Scholarships? : Which is typically awarded based on accomplishments?
Scholarships.
College or University : Anyone that can pay full price is accepted.
Neither.
Prepares you for a specific job.
Trade/Technical School
True or False: All HBCUs are private schools?
False