Financial Aid Study Flashcard

Front

A person or office who manages the financial affairs of a college or university.

Back

Bursar

Front

A designation that is based on a student's financial need.

Back

Need-Based

Front

A term meaning that something is based on a student's skill or ability. For example, this type of scholarship might be awarded based on a student's high grades, or ACT score.

Back

Merit-based

Front

The money that is owed to a person or business and is to be paid back, usually with interest.

Back

Debt

Front

A type of financial aid in which students are hired for part-time jobs, usually by their college, and often for work on campus.

Back

Work-study

Front

A financial product that allows students and their families to pay for college in installments over time, instead of paying the full amount at once.

Back

Tuition payment plan

Front

Refers to a college admission policy that does not take into account an applicant's financial status when deciding whether to accept them.

Back

Need blind

Front

A sum of money or other aid granted to a student, because of merit, need, etc., to pursue their studies.

Back

Scholarship

Front

A form of bait-and-switch, where a college gives a better financial aid offer to freshmen than to sophomores, juniors and seniors.

Back

Front-loading

Front

What is a financial award given by a government entity, foundation, corporation, or other organization to an individual or organization for a specific purpose, which does not need to be repaid?

Back

Grant