A financial aid award that does not need to be repaid.
What is a grant?
100
A type of financial aid that must be repaid with interest.
What is a Loan?
100
The official notification from the school listing the financial aid offered to the student.
What is an Award Letter?
100
A financial award that does not need to be repaid and which is usually awarded to students who meet some specified criteria.
What is Scholarship?
100
The financial aid application form developed by the federal government that collects household and financial information. The form is completed by the student, and the student’s parent(s), if applicable. The application process is completely free and is filed electronically.
What is the FAFSA (Free Application for Federal Student Aid).
200
A federal need-based grant awarded only to undergraduate students who have not earned a bachelor’s or professional degree.
What is a Pell Grant?
200
Loans included under this umbrella include the Federal Direct Subsidized and Direct Unsubsidized Stafford Loans and the Federal Direct PLUS Loan. The money lent through these programs comes from the federal government, who also administer the programs.
What are the Federal Direct Loan Programs?
200
A financial aid application required by some colleges, in addition to the FAFSA, to determine eligibility for non-governmental financial aid.
What is the CSS Profile?
200
MHS awards scholarships to graduating seniors with academic plans after high school. Every senior completes an electronic application by early May and the faculty meet to select recipients based on student plans and scholarship criteria. An awards night is held the Thursday before graduation and recipients and donors are invited to attend.
What is local scholarship process at Morse?
200
The total amount a student and his or her family are expected to contribute toward college costs from their income and assets, as determined by the federal need analysis formula.
What is the EFC (Expected Family Contribution)?
300
A local fund administering grants to graduates of Morse High school. Students can reapply each summer for the following academic year for each year they are in college.
What is the Davenport Fund?
300
These are private loans provided through private lenders. Often a co-signer is required.
What is Alternative Education Loans?
300
The total financial aid award offered to the student, which may include grants, scholarships, loans, and work-study.
What is a Financial Aid Package?
300
The total cost of attending college for one year. This total includes tuition, books, fees, room and board, & transportation.
What is the COA (cost of attendance)?
400
A need based federal grant awarded to eligible first and second year students that pursued a rigorous hs program of study.
What is an Academic Competitiveness Grant (ACG)
400
A private, non-profit organization responsible for approving student loans and insuring them for lenders against default.
What is a Guarantee Agency or Guarantor?
400
If selected for verification, a student may need to complete this form and return it to the financial aid office for review.
What is a Verification Worksheet?
400
A report sent to a student by the U.S. Department of Education as a result of the student filing a FAFSA. The SAR summarizes the information provided on the FAFSA, and if all necessary information is provided correctly on the form, an EFC will be listed.
What is the Student Aid Report (SAR)?
500
A federal need-based grant for undergraduate students with exceptional need.
What is a Federal Supplemental Educational Opportunity Grant (FSEOG)?
500
Federal loans included under this umbrella include the Federal Subsidized and Unsubsidized Stafford Loans and the Federal PLUS Loan Program. The money lent through these programs comes from banks, credit unions and other private lenders.
What are the Federal Family Education Loan Programs (FFELP)?