Types of Aid
This type of aid does not need to be repaid and is often based on financial need.
What is a grant?
This form is used to apply for federal student aid.
What is the FAFSA (Free Application for Federal Student Aid)?
This type of interest rate does not change over the life of the loan.
What is a fixed interest rate?
This federal grant is awarded to undergraduate students with exceptional financial need.
What is the Pell Grant?
This is the first step in applying for most financial aid.
What is the FAFSA?
This type of aid must be repaid with interest.
What is a loan?
This form is sometimes required by colleges in addition to the FAFSA to apply for financial aid.
What is the CSS Profile?
This type of loan is available to undergraduate students and is subsidized by the government.
What is a Direct Subsidized Loan?
This scholarship is awarded based on academic performance and other criteria set by the provider.
What is a merit-based scholarship?
This is the office at a college that handles financial aid matters.
What is the Financial Aid Office?
This type of aid is earned by working, typically on campus.
What is work-study?
This document provides a detailed breakdown of a student’s financial aid package.
What is the financial aid award letter?
This loan term refers to the time period after graduation before loan repayment begins.
What is the grace period?
This state-specific grant is awarded to eligible Massachusetts residents attending postsecondary institutions.
What is the MassGrant?
This process involves verifying the accuracy of the information provided on the FAFSA.
What is FAFSA verification?
This type of financial aid is awarded based on academic or other achievements.
What is a scholarship?
This number determines how much financial aid a student is eligible to receive.
What is the Expected Family Contribution (EFC)?
This type of loan is available to parents of dependent undergraduate students.
What is a Parent PLUS Loan?
This type of scholarship is awarded to students who demonstrate outstanding athletic abilities.
What is an athletic scholarship?
How often throughout your time in college do you have to submit the FAFSA?
What is every year?
This program provides part-time jobs for students with financial need, allowing them to earn money to help pay education expenses.
What is the Federal Work-Study Program?
This federal student aid form is available starting October 1 each year.
What is the FAFSA?
This term refers to the percentage of a loan balance charged by the lender to the borrower for the use of borrowed money.
What is the interest rate?
This grant is given to students in exchange for a commitment to teach in a high-need field and underserved school.
What is the TEACH Grant?
This is the total cost of attending a college, including tuition, fees, room, board, books, and other expenses.
What is the Cost of Attendance (COA)?