Student Loans
You must fill this out every academic year to qualify for Federal Student Loans.
What is the FAFSA.
An estimate of income and expenditures for a set period of time.
What is a budget.
Webster's dictionary defines this as "something entrusted to another, a loan."
What is credit.
Drake's Financial Aid Office is located in this building.
What is Carnegie Hall.
Drake's live mascot.
Who is George (Griff II).
A legally binding contract stating that you will repay the loan according to specific terms.
What is Master Promissory Note (MPN).
People often spend a lot of time justifying this when spending their money.
What is wants.
You will end up paying more than double for your purchase if you are only making the __________ monthly payment on your credit card.
What is minimum.
Based on academic merit, pursuit of a specific program of study, special talents, or participation in athletics. Free money for college.
What are scholarships.
Held in April, one of the nation’s premier track and field events.
What are the Drake Relays.
This begins when you graduate, withdraw, or drop to less than half time status and lasts 6 months.
What is your grace period.
A free, popular budgeting app.
What is Mint.
Credit card holders may only charge up to a certain dollar amount set by the card company. This is based on your ability to handle debt.
What is a credit limit.
The undergraduate student loan interest rate for 2024/2025.
What is 6.53%.
Drake University has a total of _____ colleges and schools.
What is 7.
You must notify them when you graduate, withdraw from school, drop below half-time status, or transfer to another school.
Who is your Student Loan Servicer.
Priorities and targets you set for how you want to spend and save your money.
What are financial goals.
If you pay your credit card in full by the due date, you will not owe any _____________.
What is interest.
With this type of student loan, interest is paid by the Dept. of Education while you are in school, in grace period, or in deferment.
What is a subsidized loan.
This residence hall was renovated into the new Johansen Student Center.
What is Morehouse.
Students will automatically be signed up for this repayment plan. The loan term is 10 years with a total of 120 payments.
What is standard repayment schedule.
These expenses are the same each month.
A report card on how you manage your finances. It is a historical record of how and when you pay your bills, how much debt you have, and how long you have been managing credit accounts.
What is a credit report.
To be eligible for student loans you must maintain this.
What is Satisfactory Academic Progress (2.0 GPA, Complete 67% of credits enrolled in).
The year Drake University was founded.
What is 1881.