Financial Aid Basics (1)
FAFSA is an acronym that stands for this
What is the Free Application for Federal Student Aid?
There are 4 forms of financial aid
What is Grants, Scholarships, Loans and Work Study?
This is the earliest students can complete the FAFSA every year
What is October 1st?
A postponement of a loan payment
What is Deferment
The types of degrees that you can earn at a 2 year college
Certificate, diploma, Associates
Tuition, room, board, and meals are included in this calculation.
What is Direct Costs?
The two government grants offered.
What is the MAP grant and the Pell grant?
These types of students must submit financial information for their parents on the FAFSA
What are dependent students?
The type of federal direct loan in which the government pays the interest on while the student is still in school
What is a Subsidized loan?
The two components that make up your academic profile.
What is GPA and SAT?
This helps make up the difference between what you can afford and the actual cost of college
What is financial aid?
What males ages 18-25 must register for in order to receive federal aid?
What is the selective service?
This is the document that needs to be ordered when Data Retrieval does not work.
What is a tax transcript?
The type of loan in which interest accrues while the student is in school.
What is an Unsubsidized loan?
The first type of degree you can earn at a 4-year college.
What is a Bachelor's degree?
This is on- or off-campus work opportunities for students provided at the college through federal funds.
What is Work Study?
This is is a grant for someone who is a resident of Illinois, plans to attend a college in Illinois and completes FAFSA before the suspension date
What is the MAP grant?
This number represents what the government believes your family can pay for one year of college.
What is EFC?
The standard federal student loan amount offered per year.
What is $5,500?
By entering in your GPA, SAT and Race/ethnicity, you can see colleges that are reach / match / safety options on this tool.
What is the Bot?
FAFSA must be completed before students can apply for this
What is student loans?
This is money awarded based on things like academic achievement, athletic ability, artistic talent or ethnic background.
What is a Scholarship?
Name 2 items you will need to file for FAFSA next year.
What is an FSA ID and 2018 taxes? (both yours and parents')
The interest rate of both subsidized and unsubsidized loans.
What is 5.05%?
The day officially reserved for National College Decision Day.
What is May 1st?