This is any type of financial assistance available to families and students for the purposes of funding higher education.
What is a financial aid?
100
The FAFSA for the new year is not available until after this date.
What is January 1st?
100
This is an amount charged for the use of the loan funds over a period of time and is usually stated as a percent.
What is interest?
100
You will be required to get a personal identification number, or this, before you can fill out your FAFSA.
What is a PIN?
200
This is a federal grant distributed to students who are most in need of financial aid.
What is a Pell grant?
200
This is made up of all of the aid that you will receive from a school. Each school creates one for you once they receive your FAFSA information.
What is a financial aid package?
200
This is a binding legal document that lists the conditions under which the loan is made and the terms under which the borrower agreed to pay back the loan.
What is a promissory note?
200
This is the abbreviated name of the application that a student must fill out to receive federal financial aid.
What is the FAFSA?
300
This is a type of financial aid where students get a job to help earn money toward the cost of college.
What is work-study?
300
A random sample of students each year are selected to fill out this form in addition to their FAFSA to show that the information on their FAFSA is accurate.
What is a verification worksheet?
300
This is the name for the amount of funds borrowed.
What is the principal?
300
This is an abbreviation for the amount of money your family is expected to contribute toward your cost of college.
What is EFC?
400
This is money for college that has to be repaid with interest.
What is a loan?
400
This is a document that each college sends you detailing the financial aid you are being offered.
What is an award letter?
400
On this type of loan the government pays the interest while the student is in school.
What is a subsidized loan?
400
This is a type of loan that parents can take out to fund their children's education.
What is PLUS?
500
This is free money for college that is usually provided by the college or an outside organization.
What is a scholarship?
500
When it's time for you to pay your tuition bill, you go to this office.
What is the bursar's office?
500
This type of loan accrues interest from the date of disbursement and if there is unpaid interest it will be added back to the principal through capitalization.
What is an unsubsidized loan?
500
This is the abbreviated name of the document that reports the information submitted on the FAFSA and indicates the Expected Family Contribution.