Financial Algebra Vocab FALL Study Guide

The __________ is an annual no cost federal form that determines your eligibility to receive financial aid for college.

• FAFSA
• Work-Study
• Grant
• Scholarship

At CNM, students must maintain a C average and complete at least 2 out of every 3 courses they attempt. This is an example of _____________ but it differs at every school.

• Satisfactory Academic Progress
• Work-Study
• FAFSA
• Cost of Attendance (COA)

If given the choice, college students should select a(n) ________________ student loan since the federal government covers the interest until the borrower starts making payments.

• Subsidized
• Unsubsidized
• Federal
• Private

A ________ is a form of financial aid from the government based solely on your ability to pay and not on your academic or athletic merits. This money does not have to be paid back.

• Grant
• Federal Student Loan
• Scholarship
• Private Student Loan

A student loan made by a financial institution other than the federal government could be called a _______. The loan must be paid back and typically with higher interest.

• Grant
• Federal Student Loan
• Scholarship
• Private Student Loan

A ________ is a loan funded by the federal government to help cover the costs of college. This loan must be paid back with interest.

• Grant
• Federal Student Loan
• Scholarship
• Private Student Loan

A high score on the ACT or the ability to run fast may earn you assistance in paying for college in the form of a ____________. This award does not have to be paid back.

• Grant
• Federal Student Loan
• Scholarship
• Private Student Loan

A student loan that must be paid back along with all of the interest accrued from the date of disbursement regardless of whether you are still in school or not is called a(n) _____________ loan.

• sneaky
• phishy
• unsubsidized
• scam

Shelving books in the campus library or serving meals in the school cafeteria are examples of part-time employment students can get to help pay for college expenses. These jobs are part of a government program called _____________.

• grants
• work-study
• Jobs across Main Campus
• scholarships

Includes tuition and fees, room and board, and allowances for books, fees, loan interest, and other miscellaneous college-related expenses.

• Cost of Attendance
• Grant
• Scholarship
• Federal Student Loan