Financial Aid
This type of aid does not need to be repaid and is often, but not always, awarded for academic achievement.
The average cost of tuition for an in-state student attending a public university.
What is $10,000?
These types of loans are offered by the federal government and are the most common type of student loan.
What are federal student loans?
These awards are based on financial need and do not need to be repaid.
What are grants?
This helps you track how much money you make and spend.
What is a budget?
This is the form you need to complete to apply for federal student financial aid
What is the FAFSA?
This is a charge for using campus facilities, like libraries or gyms, in addition to tuition
What is a student activity fee?
The type of loan where the government covers interest while you're in school.
What is a subsidized loan?
A source where students can find a variety of scholarship opportunities.
What is a scholarship search website (e.g., Fastweb)?
A list of fixed expenses, such as rent and tuition, that are consistent each month.
What are recurring expenses?
This is the key difference between scholarships and loans
What is that scholarships do not need to be repaid, while loans do?
This is the name of what you pay for housing and food while attending college
What is room and board?
This is the period after graduation where you don’t have to make student loan payments right away.
What is the grace period?
These scholarships are given to students based on academic performance.
What are merit-based scholarships?
This is the name for the cost of taking classes at a college or university.
What is tuition?
This is a federal program where students work part-time to help pay for college
What is work-study?
This is the cost of the books and materials you need for your classes each semester.
What is 800-1200?
This type of repayment plan adjusts monthly payments based on your income.
What is an income-driven repayment plan?
This federal grant is typically awarded to low-income undergraduate students.
What is the Pell Grant?
A common living situation for college students that is typically cheaper than off-campus housing.
What is living in a dorm?
These are loans offered by the federal government that students must repay, with interest.
What are Direct Loans?
The typical difference in tuition cost between in-state and out-of-state students at a public university.
What is about $10,000 to $20,000 more per year for out-of-state students?
The total amount a student would pay on a $10,000 loan over 20 years at a 5% interest rate.
What is $15,600 (including interest)?
A scholarship that does not require repayment and is typically awarded for community service or leadership.
What is a civic engagement or community service scholarship?
The average hourly wage for part-time student jobs, which can help offset living costs.
What is $10-15 per hour?