Hunter: Paying for College

A federal student loan available to undergraduate students; the federal government pays interest on the loan as long as the student is in school at least part-time

• Direct Subsidized Loan

• Cost of Attendance

• Direct unsubsidized Loan

• Disburtsment

A federal student loan available to undergraduate and graduate students; the student is responsible for paying the interest during the time they are in school, which means they must pay that interest while studying or have it rolled into the principal amount of their loan

• Direct Subsidized Loan

• Direct Unsubsidized Loan

• Disburstment

• Cost of attendance

A portion of a federal student loan that the school pays out by applying the funds to the student's school account or by paying the borrower directly. Students generally receive their federal student loans in more than one disbursement.

• Tuition

• Forebearance

• Deferment

• Disbursement

A mandatory information session which takes place before a student receives their first federal student loan. It explains their rights and responsibilities as a student borrower.

• Entrance Counseling

• Forbearance

• Grace Period

• Loan Consolidation

A mandatory information session which takes place when a student graduates, leaves school, or attends school less than half-time. It explains the student's loan repayment responsibilities and when repayment begins.

• Loan Refinancing

• Exit Counseling

• Deferment

• Loan Consolidation

A report you receive with the information you submitted in your FAFSA. It contains your SAI and other information that colleges will use to determine your financial aid package.

• Pell Grant

• Prepayment Penalty Fee

• FAFSA submission Summary

• Master Promissory Note

The largest form of student aid in the country; federal aid programs come in the form of government grants, loans, and work-study opportunities

• Pell Grant

• Gift Aid

• Scholarships

• Federal Student Aid

The sticker price for the academic portion of your college expenses, which does not include room and board, textbooks, or other fees

• Tuition

• Grant and Aid

• FAFSA

Total expense of going to college which may include tuition, room and board, fees, books and supplies, transportation, health insurance, etc. Also known as Sticker Price or a school's published price.

• Cost of Attendance

• Room and Board

• Tuition

• Work-study

A process that allows a borrower to pause their federal student loan payments; interest does NOT accrue during this time period on subsidized loans

• Deferment

• Delinquency

• Cosigner