Ch 7 Vocab - College Planning

Definition: Financial aid that does not need to be repaid; generally based on financial need.

• loan

• warranty

• grant

• tax

Definition: an undergraduate degree from a college or university, usually completed after four or five years of study.

• Bachelor's Degree

• Associate's Degree

• Master's Degree

• Doctoral Degree

Definition: federal student loans that aren't based on a student's financial need and start accruing interest immediately.

• parent plus loans

• unsubsidized loans

• family federal education loans

• subsidized loans

Definition: federal student loans that are based on a student's financial need and don't accrue interest for a set period of time.

• payday loans

• subsidized loans

• high risk loans

• reverse mortgages

Definition: A program that allows students to work part time while continuing their studies.

• scholarship

• occupation

• grant

• work-study

Definition: a course that needs to be completed before a student can enroll in a second course.

• scholarship

• replacement

• timing

• prerequisite

Definition: Loans made by banks, credit unions, or other organizations with terms and conditions set by the lender including higher or variable interest rates.

• private student loans

• parent plus loans

• direct subsidized loan

• federal student loans

Definition: The percentage of students who finish the program they began.

• click-through rate

• failure rate

• completion rate

• incidence rate

Definition: Any form of financial aid that doesn't need to be repaid.

• gift aid

• federal student aid

• private loan

• scholarship

Definition: Debt payments are held off for or until a certain time but interest continues to accrue.

• escalation

• modification

• scholarship

• forbearance