Education, Career & Income

A federal grant usually awarded to undergraduate students who display exceptional financial need and have not earned a bachelor's, graduate, or professional degree. This grant does not have to be repaid.

• Pell Grant

• Federal Student Loan

• State Grant

• Private Scholarship

Someone who legally agrees to take responsibility for a person's debt if they cannot repay it

• Co-signer

• Guarantor

• Debtor

• Creditor

A school that prepares students to enter a specific career directly after training, usually in less than 2 years

• Trade School

• Community College

• University

• Vocational Institute

A paid career-training program where students learn on the job in addition to some classroom instruction

• Internship

• Apprenticeship

• Vocational Training

• On-the-Job Training

A degree usually awarded for one or two years of full-time academic study beyond a bachelor’s degree.

• Bachelor's Degree

• Doctorate Degree

• Master's Degree

• Associate Degree

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.

• Disbursement

• Allocation

• Distribution

• Payment

A student or trainee who works, sometimes without pay, in order to gain work experience in a particular field

• Intern

• Volunteer

• Apprentice

• Trainee

The lowest wage per hour that a worker may be paid, as mandated by federal, and sometimes state, law

• Minimum Wage

• Living Wage

• Fair Wage

• Base Salary

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 Loans

• Direct Unsubsidized Loans

• Federal PLUS Loans

• Private Student Loans

A federal program that allows students to work part-time while attending school to help pay for their education expenses

• Federal Work-Study

• Student Loan Program

• Pell Grant

• Tuition Assistance Program