FAFSA & Financial Aid
This form determines how much financial aid you can receive
FAFSA
This type of aid does NOT need to be paid back
Scholarships/grants.
Money borrowed that must be paid back with interest...
Student loans.
A 2-year college option
Community college.
This is the cost of classes.
Tuition.
"It isn't cheap! So apply for scholarships & grants! " - Rosey
FAFSA stands for...
Free Application for Federal Student Aid
Scholarships are often based on this (name one)
Merit, need, athletics, identity, etc. (idenitfying information)
This type of loan does NOT gain interest while you’re in school
Subsidized loans!
A 4-year degree earned after college
A bachelor’s degree.
Name one additional college expense besides tuition
What are books, housing, food, transportation, etc.
This number is used by schools to determine your financial need....
Expected Family Contribution (EFC) / Student Aid Index (SAI)
This federal grant is for students with financial need
The Pell Grant.
This type of loan DOES gain interest while in school.
Unsubsidized loans
These schools are often more expensive but may offer more aid.
Private colleges.
This helps you estimate your total college cost..
Budget!
You should fill out FAFSA starting this time each year
October (or as soon as it opens)
True or False: You can apply for scholarships even after starting college.
True.
This term refers to the extra money added to your loan over time
Interest.
This option allows you to live at home and save money..
Commuting.
True or False: The most expensive school is always the best choice
False.
True or False: You have to pay money to complete FAFSA
False.
This is a common mistake students make about scholarships...
The thought or doubt that "“I won’t qualify so I won’t apply”....
This happens if you don’t repay your student loan.
Default (or damaged credit).
**We don't want this!
This type of program focuses on skills and trades.
Vocational/technical school
This strategy helps reduce how much you borrow...
**hint Rosey has mentioned this all week...
Applying for scholarships, working part-time, starting at community college, etc...