529 Account: A savings account for higher education where the funds can be withdrawn tax free when used for educational purposes.
Direct Consolidation Loans: These loans allow the borrower to combine all of the student loans you are eligible for into a single loan under a single loan servicer.
Direct PLUS Loans: Student loans made to graduate students, professional students, and undergraduate students who are still considered dependents on their parents.
Direct Subsidized Loans: Student loans available to undergraduate candidates who need financial aid. To receive this loan, you must demonstrate a need for financial help to cover the costs of higher education.
Direct Unsubsidized Loans: Student loans made available to undergraduate, graduate and professional students. The difference between this loan and Subsidized loans the student does not need to demonstrate whether they are in financial need of the loan.
Education IRA: An educational savings plan which offers tax advantages.
Expected Family Contribution: Referred to as the EFC, this is an estimated amount of money your family can pay out of pocket towards your education.
FAFSA ID: One of the first steps which must be completed when filling out a FAFSA and is simply a username and password which allows for the student to fill out the application form.
FAFSA: Known as the Free Application for Federal Student Aid and is a form which must be completed to qualify for any type of government financial aid for higher education.
Federal Loans: Financial aid offered through the federal government for students. These loans are regulated by the federal government and includes various protections.
Federal Perkins Loans: A student loan program in which the school is the lender of the money. It is for the undergraduate and graduate students at the school who are in financial need. The specifications of these loans depend on the school from which you are getting the loan.
Grant: A form of financial aid which is usually need based awarded on financial need.
Merit Based Awards: Awards which are given to students who can prove themselves in various categories.
Need Based Award: An award which is given based on the financial need of a family and student.
Net Price: The sticker price, minus any grants, scholarships, and educational tax benefits you may receive. This is specific to each person based on their personal circumstances, and is on average lower than the sticker price.
Private Loans: Often referred to as "alternate loans" and do not include the same benefits or protections as Federal Loans.
Scholarships: Merit based awards which are given to qualifying students who meet the criteria.
Sticker Price: The published tuition and fees of a college.
Student Aid Report: A report which is sent on completion of the FAFSA. It will be a review of the financial aid you are receiving and the content provided in your FAFSA.
Tuition Pre-Payment: A state program allowing families to purchase tuition credits at their present price. These credits can be used in the future when the tuition costs are most likely higher.
Direct Consolidation Loans: These loans allow the borrower to combine all of the student loans you are eligible for into a single loan under a single loan servicer.
Direct PLUS Loans: Student loans made to graduate students, professional students, and undergraduate students who are still considered dependents on their parents.
Direct Subsidized Loans: Student loans available to undergraduate candidates who need financial aid. To receive this loan, you must demonstrate a need for financial help to cover the costs of higher education.
Direct Unsubsidized Loans: Student loans made available to undergraduate, graduate and professional students. The difference between this loan and Subsidized loans the student does not need to demonstrate whether they are in financial need of the loan.
Education IRA: An educational savings plan which offers tax advantages.
Expected Family Contribution: Referred to as the EFC, this is an estimated amount of money your family can pay out of pocket towards your education.
FAFSA ID: One of the first steps which must be completed when filling out a FAFSA and is simply a username and password which allows for the student to fill out the application form.
FAFSA: Known as the Free Application for Federal Student Aid and is a form which must be completed to qualify for any type of government financial aid for higher education.
Federal Loans: Financial aid offered through the federal government for students. These loans are regulated by the federal government and includes various protections.
Federal Perkins Loans: A student loan program in which the school is the lender of the money. It is for the undergraduate and graduate students at the school who are in financial need. The specifications of these loans depend on the school from which you are getting the loan.
Grant: A form of financial aid which is usually need based awarded on financial need.
Merit Based Awards: Awards which are given to students who can prove themselves in various categories.
Need Based Award: An award which is given based on the financial need of a family and student.
Net Price: The sticker price, minus any grants, scholarships, and educational tax benefits you may receive. This is specific to each person based on their personal circumstances, and is on average lower than the sticker price.
Private Loans: Often referred to as "alternate loans" and do not include the same benefits or protections as Federal Loans.
Scholarships: Merit based awards which are given to qualifying students who meet the criteria.
Sticker Price: The published tuition and fees of a college.
Student Aid Report: A report which is sent on completion of the FAFSA. It will be a review of the financial aid you are receiving and the content provided in your FAFSA.
Tuition Pre-Payment: A state program allowing families to purchase tuition credits at their present price. These credits can be used in the future when the tuition costs are most likely higher.