Affordability
Money to pay for college provided by the federal government, state government, colleges/universities or a business/organization.
Financial Aid
The acronym for the Free Application for Federal Student Aid
FAFSA
Money you borrow and must pay back with interest. These are offered by the federal government, sometimes colleges, and banks.
Loans
Mr. Uribe's favorite kind of chips
Hot cheetos puffcorn
Total cost of attending any post-secondary pathway. This means tuition, room and board, books, supplies, transportation, and other expenses.
Cost of Attendance
Money you receive based on financial need that you do not have to pay back! Can come from the federal government, state government, colleges, or trade/career schools.
Grants
Federal program that provides part-time jobs for only students with financial need, allowing them to earn money to help pay education expenses.
Work Study
Name of Mr. Uribe's family dog
Loki
The difference between the cost of attendance and your Expected Family Contribution(EFC)/ Student Aid Index (SAI)
Financial Need
Money you receive that you do not have to pay back based on academics, skill, identity, and/or completion of a specific task. Comes from colleges/universities, trade/career schools, businesses, and organizations.
Scholarships
Type of Federal student loan that you will not have interest while you are in school. Meaning if you take out a $2,000 loan, it will be $2,000 and not accrue interest until you are out of school.
Direct Subsidized Loan
The exact date when FAFSA Workshop Night will be at CMAB
Dec. 11th
It is the full price before any financial aid. Similar to cost of attendance. Price that might be easily found on brochures and website. This includes tuition, housing, fees.
Sticker Price
Application for students who are not eligible for the FAFSA to apply for the MAP grant.
Alternative Application for Illinois
Type of loan that are made available to students and eligibility is not based on financial need. This type of loan will accrues interest while you are in school.
Direct Unsubsidized Loan
Type of costs related to post-secondary program which can include tuition, housing, meal plan, health care, & student activities
Direct Costs
The Price after subtracting scholarships and grants.
Cost of attendance - Scholarships and Grants = ?
Net Price
Estimated Family Contribution/ Student Aid Index Is a number that colleges/program use to determine a family’s eligibility for financial aid.
EFC/SAI
Type of loans to eligible parents of students to help pay for educational expenses. Parents sign the loans rather than the student and are expected to be paid back immediately after the loan is taken out. Can potentially lead to massive debt.
Parent Plus Loans
Type of costs you may encounter during post-secondary program which can include books, computer costs, transportation, phone bill, laundry
Indirect Costs