FAFSA Study Set

Define Award Letter

• A letter from the college financial aid office that is sent to the student listing all financial aid awarded to the student.

• The student’s cost of attendance includes tuition, fees, and a standard allocation designed to cover reasonable living expenses while attending school.

• The student’s cost of attendance includes tuition, fees, and a standard allocation designed to cover reasonable living expenses while attending school.

• The student’s cost of attendance includes tuition, fees, and a standard allocation designed to cover reasonable living expenses while attending school.

Define Cost of Attendance

• The total financial aid a student receives.

• The Free Application for Federal Student Aid determines a student’s financial aid.

• The student’s cost of attendance includes tuition, fees, and a standard allocation designed to cover reasonable living expenses while attending school.

• This term applies to loans. It is the failure to repay a student loan according to the terms of the loan.

What is a failure to repay a student loan according to the terms of the loan?

• Grant

• Gift Aid

• FAFSA

• Default

Define Estimated Family Contribution (EFC):

• A type of financial aid award based on need or merit that does not require repayment.

• The amount by which your family’s contribution falls short of covering your college expenses.

• The total amount students and their families are expected to pay toward college costs.

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

What is the Free Application for Federal Student Aid determines a student’s financial aid?

• Interest

• FAFSA

• Federal district loan program

• Financial aid package

What is the definition of the Federal Direct Student Loan Program:

• Financial aid that is awarded based on a student’s financial circumstance.

• A process of reviewing a student’s financial aid application to determine the amount of

  financial aid eligibility.

• Financial aid that is awarded based on a student’s academic, leadership, or artistic talent, or

  some other criteria.

• Federally sponsored loan programs, which include the Stafford

  Loan and the Parent PLUS Loan (for parents of undergraduate students).

What is the total financial aid a student receives?

• Financial Aid Package

• Need Analysis

• Merit-Based Aid

• Grant

Define Financial Need:

• The amount by which your family’s contribution falls short of covering your college expenses.

• A type of financial aid award based on need or merit that does not require repayment

• A fee charged when you take out a loan.

• A form sent to the student after submitting the FAFSA.

What is the term for the definition ''Financial aid that does not have to be paid back, such as scholarships and grants'' ?

• Work-Study

• Gift Aid

• Merit Based Aid

• Need Analysis

A type of financial aid award based on need or merit that does not require repayment is a what

• Financial Aid Program

• Award Letter

• Grant

• Default