3.3 Student Loans

A specialized institution that provides students with the necessary skills to be successful at a particular job; sometimes known as trade, vocational, or technical schools.

• high school

• career school

• College

• Haney

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

The form on which a loan applicant must supply personal and financial data that will assist in the loan decision-making process. FAFSA is a federal form, but many private educational and lending institutions also require it.

• Federal Loan

• Private Loan

• Defer

• Free Application for Federal Student Aid (FAFSA)

A report sent to a family after its Free Application for Federal Student Aid is processed, includes information about which student loans are available.

• Free Application for Federal Student Aid (FAFSA)

• expected family contribution (EFC)

• Federal Direct Unsubsidized Loan (Stafford)

• Student Aid Report (SAR)

The amount of tuition a family is expected to personally cover based on financial information information submitted to a student loan agency.

• expected family contribution (EFC)

• Career School

• Defer

• Accrues

Tags

CCSS.4.MD.A.2

A loan that the federal government funds and makes available to students.

A loan issued by a bank, a credit union, a school, or a state agency.

Tags

CCSS.HSA.CED.A.2

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

A need-based student loan for which borrowers can defer interest payments for a period of time. No payment is required on the loan while the student is in school and during a 6-month grace period after graduation. Federal government pays interest while student attends school.

• Federal Direct Subsidized Loan (Stafford)

• Free Application for Federal Student Aid (FAFSA)

• Federal PLUS Loan

• Federal Perkins Loan

Describes the situation when no payment is required on a loan, such as a student loan while the student is in school and during a 6-month grace period after graduating.

• federal Loan

• defer

• private loan

• FAFSA

A student loan that is not need based. Students are expected to pay the interest that accrues from the time the money is received. No payment is required on the loan while the student is in school and during a 6-month grace period after graduation.

• Federal Direct Subsidized Loan (Stafford)

• Federal Direct Unsubsidized Loan (Stafford)

• Federal Perkins Loan

• defer

Describes the action when interest builds up or adds to the principal.

• simplified daily interest formula

• private loan

• federal loan

• accrues

Tags

CCSS.7.RP.A.3