The Feds
The online form you complete on December 1st to qualify for federal and state grants and loans
What is the FAFSA ?
DOUBLE JEOPARDY (Choose your WAGER)
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These five items make up the COA for a school
How rows lines would be in a 10 year amortization table ?
What is 120 ?
The standard repayment period for a Federal Student Loan.
What is 10 years ?
If your parent is denied a DirectPlus loan what might the federal government do if the decision is appealed ?
What is allow the student to borrow more in federal loans.
The origination fee on a federal SUBSIDIZED student loan in 2023
What is 1.057% ?
Sends you a financial aid award letter
What is the university or college where you have been ACCEPTED.
In what row is the MONTHLY INTEREST the highest ?
The first row of the table.
DOUBLE JEOPARDY
Interest is paid on the loan by the GOVERNMENT when you are enrolled in school and for the 6 month grace period.
What is the borrowing limit (federal) for senior year of college ?
What is 7500 ?
A loan that a parent can get from the federal government to cover up to the COA for a qualifying student.
What is a DirectPlus loan ?
Normally required for all
on - campus freshman in the first year of college.
What is room and board ( living on campus and a meal plan ) ?
In what row is the amount going to PRINCIPAL the highest ?
What is the LAST row ?
A penalty for paying off your loans earlier. This is something that DOES NOT apply to Federal Student Loans.
What is a PRE-PAYMENT penalty ?
A person who is legally repayment for a private loan in addition to the borrower.
What is a cosigner ?
The fee for a federal DirectPlus Loan
What is 4.228%
Your total borrowing should not exceed this
If you make an extra payment in October of 2024 which month will the interest be lower ? October 2024 or November 2024
What is November 2024 ?
A four year college degree is known as an __________
What is an UNDERGRADUATE degree ?
The entity that actually disburses the student loan to the borrower's school account
What is The Federal Government - Department of Education ?
The term COA means _____________________ and is established by the _____________________.
What happens to a loan when the term is extended to 20 years instead of 10 years ?
What is The monthly payment is less and the total interest for the loan is more.
A two year degree is known as a ________________.
What is an associate degree ?
What is ESA and 529 ?