College Costs
This is the full advertised price of college before any financial aid is applied.
What is sticker price?
Submitting this form gives access to federal, state, and institutional aid.
What is the FAFSA?
This type of aid is awarded based on merit and does not need to be repaid.
What is a scholarship?
This federal loan has interest paid by the government while a student is enrolled at least half-time.
What is a Direct Subsidized Loan?
This repayment plan features fixed payments that eliminate your loan in 10 years.
What is the Standard Repayment Plan?
This cost represents what students actually pay after scholarships and grants.
What is net price?
This summary shows your FAFSA information and your Student Aid Index (SAI).
What is the FAFSA Submission Summary?
This type of aid is based on financial need and does not need to be repaid.
What is a grant?
This loan type accrues interest immediately, even while you’re in school.
What is a Direct Unsubsidized Loan?
This plan bases your monthly payment on income and family size, often leading to forgiveness after a set number of years.
What is an Income-Driven Repayment Plan?
This term includes tuition, fees, room & board, books, and more.
What is Cost of Attendance?
This number determines how much need-based aid a student may qualify for.
What is the Student Aid Index (SAI)?
This federal grant is typically awarded to students with significant financial need.
What is the Pell Grant?
This federal loan is available to graduate students and parents of undergraduates.
What are Direct PLUS Loans?
Missing payments can move your loan into this risky stage before default.
What is delinquency?
This expense includes your dorm and your meal plan.
What is room and board?
This campus program allows students with financial need to earn money through part-time jobs.
What is Work-Study?
These should be accepted first when reviewing a financial aid package.
What are scholarships and grants?
This period occurs after graduation and before loan payments begin.
What is the grace period?
This temporary pause in payments still allows interest to grow on most loan types.
What is forbearance?
Students usually have more control over this category of expenses, such as books and transportation.
What are indirect costs?
This document from a college lists grants, scholarships, loans, and work-study you’re eligible for.
What is a Financial Aid Offer?
This is the term for any aid that does not need to be paid back.
What is gift aid?
This process combines multiple loans into one, sometimes simplifying payments but potentially increasing long-term interest.
What is loan consolidation?
This step is required before receiving federal student loan funds and teaches responsible borrowing basics.
What is Entrance Counseling?