FAFSA
This is the full name for the acronym FAFSA.
What is the Free Application for Federal Student Aid?
This is the maximum amount for a Federal Direct Student Loan for a dependent student.
What is $5,500?
This is the purpose of the GI Bill.
What is to help veterans and their families pay for college, grad school, and other training programs?
The parent is solely responsible for the repayment of this type of loan for undergraduates.
What is a Federal PLUS Loan?
This is the term for the amount of money not covered by financial aid.
What is "The GAP"?
This is the earliest date you can fill out and submit the FAFSA form.
What is October 1st of your senior year in high school?
This is the type of federal student loan where interest is waived while the student is in college.
What is a Subsidized Federal Direct Loan?
To be eligible for benefits under the new GI Bill, a person must have served at least this many days on active duty after 9/11.
What is 90 days?
This type of loan has interest rates that are fixed at 8.94%.
What is a Federal PLUS Loan?
This type of loan can be used to cover a gap, where your home is the collateral.
What is a Home Equity Loan?
This is the full name for the acronym EFC.
What is the Expected Family Contribution?
This is a signed, written promise to repay a loan that contains details like the loan amount and interest rate.
What is a promissory note?
The new GI Bill bases the amount of tuition covered on this.
What is the length of active duty after 9/11?
This is the maximum amount that can be taken out for a Federal PLUS Loan.
What is the full amount of the cost of attendance not covered by awarded financial aid?
True or false: The interest paid on a home equity loan is typically tax deductible.
What is true?
These are the two assets that the government does not consider when determining your EFC.
What are your family's primary residence and parents' retirement savings accounts?
Federal Student Loans allow a grace period of this many months after graduation before you begin paying them back.
What is 6 months?
The Yellow Ribbon Program can help with these additional costs.
What are the costs if an eligible student attends a more expensive school than what the GI Bill covers?
True or false: Repayment of a Federal PLUS Loan begins within 60 days after the funds have been disbursed.
What is true?
Private, or "Alternative" loans are available from this.
What is a private financial institution, like a bank?
This is the name of the report the government sends you back after you submit the FAFSA, which contains your EFC.
What is the Student Aid Report (SAR)?
A student is solely responsible for the payback of this type of loan.
What is a Federal Student Loan?
To be eligible for the maximum benefits under the new GI Bill, a person must have served at least this many months on active duty after 9/11 or have been honorably discharged.
What is 36 months?
True or False regarding PLUS loans: "Students or parents can take out this type of loan."
What is false?
This is an option to cover the gap that won't add to your debt besides scholarships and grants.
What is working an off-campus job?