Financial Aid Review!

How often do you have to review your Financial Aid Award Letter?

College expenses that are NOT paid to the school but are still necessary. Books are an example.

An interest rate that goes up or down based on credit score, the market, and/or laws.

Process in which student informs the government of his/her current financial status.

An estimate of the student's ability to pay post-secondary expenses.

A need-based loan from the U.S., where the interest does NOT accrue while in school.

Financial aid given by the school or other private sources. The student does not have to repay.

In terms of a loan, what is the principle?

The amount you have are expected to pay AFTER gift aid has been subtracted from the total cost.

What type of financial aid is the most useful and best to use?

A program that allows students to work part-time while continuing their studies

Financial aid that does NOT have to be paid back, such as scholarships and grants.

College expenses you are required to pay to your school. An example of this is tuition.

Financial aid for which the student must earn or repay; includes work-study and loans

An interest rate that is locked in and does NOT go up or down.

A loan given to the parent of the the student that has high interest rates.

A letter sent, via mail or email, by a college informing the student of aid for the next year.

When we talk about having too much debt, where is the line?

How much are you required to pay every month on your loan?

What does it mean that a Subsidized Loan does NOT accrue interest while you are in school?

How often do you fill out the FAFSA?

Document that is a summary of FAFSA answers and includes your EFC & Financial Aid Verification.

A loan that accrues interest while the student is in school.

Total amount it will cost a student to go to school.

Having knowledge about money and actions having to do with money.

What is typically the worst kind of aid or the aid you should accept last

Gift aid that is given to the student by the U.S. government based on financial aid.

A percentage of the amount of money borrowed that is charged every month or year.