Types of Aid
Any grant or scholarship, loan, or paid employment offered to help a student meet his/her college expenses
This is how much the FAFSA costs to fill out.
What is nothing/free?
This is the first figure used in the formula that institutions use to calculate how much money you'll receive toward your education. This is the term for the total amount that it will cost you to attend a particular information.
What is cost of attendance?
This is usually earned for an undergraduate course of study that normally requires three to five years of study.
What is a Bachelor's Degree?
a 2-year government-supported college that offers an associate degree
What is a community college?
A kind of "gift aid" — financial aid that doesn’t have to be paid back. Grants are usually awarded based on need.
What is a grant?
Also known as a financial aid offer. It’s the communication you receive from a college that shares the types and amounts of financial aid the college is offering you. The financial aid offer or award letter should also include what you’re expected to do to keep the award, and a deadline for accepting the award. Colleges will send this via mail, email, or college portal.
What is an award letter?
These loans are available to all students regardless of financial need, but you’re responsible for all interest from day one.
What are Unsubsidized loans?
A degree granted after a two-year course of study, especially by a community or junior college
What is an Associate's Degree?
UW and Washington State University are examples of these.
What is a state/public university?
Financial aid (grants, scholarships, loans, and work-study opportunities) given to students because they and their families are not able to pay the full cost of attending a certain college. This is the most common type of financial aid.
What is need-based aid?
True or False: Each institution sets their own deadline for FAFSA submission.
What is true?
These loans are need-based federal loans where the government pays your interest while you’re in school, during your grace period, and in deferment.
What are Subsidized loans?
An academic degree given by a college or university upon those who complete at least one year of prescribed study beyond the bachelor's degree.
What is a Master's Degree?
an independent school that sets its own policies and goals, and is privately funded.
What ia a private college?
These jobs are reserved at an institutions on campus for specific students. The money that is earned from this type of job is paid directly to the student, and the student can use it for personal expenses (i.e. travel, food, car payments).
What is work study?
True or False: Students have to file the FAFSA each year that they are in school.
What is true?
The amount of time a student has to live in a state before he or she is eligible for in-state tuition prices and state aid.
What is residency requirements?
The highest level of academic degree
What is a Doctoral Degree?
run by companies that operate under the demands of investors and stockholders. These institutions are privately run and exist, at least in part, to earn money for their owners.
What is a for-profit college?
Financial aid given to students based on their personal achievements. Most scholarships are considered this type of aid, as they are generally awarded for success in school, the arts, athletics, or another area.
What is a merit-based scholarship?
This is the value acquired from the formula that institutions use to calculate how much money you'll receive toward your education. Your cost of attendance minus your student aid index equals this value: (CoA-SAI)=?
What is financial need?
An eligibility index number that a college's or career school's financial aid office uses to determine how much federal student aid you may be able to receive. This is calculated using information from your FAFSA form.
What is Student Aid Index?
A term for an academic degree taken by a person who has completed undergraduate courses
What is an undergraduate degree?
True or False: If you don't know what you want to major in right now, you should panic!
What is false?