WorksheetsFinancial Aid Lingo
Total questions: 20
Worksheet time: 10mins
A type of financial aid that does not have to be paid back after the student leaves school. They are available through the federal government, state agencies, and educational institutions.
grant
unsubsidized loan
subsidized loan
Parent-Plus loan
A type of financial aid that must be repaid to the government agency or other lending organization when the student leaves school.
grant
scholarship
loan
FASFA
A type of financial aid. Organizations may give these according to academic achievement, financial need, or any other basis. Usually there is a competitive application process.
FASFA
grant
scholarship
loan
This is an award of on-campus part-time employment for students who demonstrate financial need.
federal work-study program
financial aid
Pell Grant
tuition
What is the correct ending to a financial aid application (FASFA) website?
.com
.org
.net
.gov
True or False: EFC is the number used to determine your eligibility for financial aid.
True
False
The total estimated cost for one academic year of college or career school.
Cost of College
Tuition
Cost of Attendance
Part-time jobs for students with financial need, allowing them to earn money to help pay education expenses.
student loans
work-study
grants
True or False: All eligible students should apply for financial aid.
True
False
True or False: If my parent(s) doesn't want to pay for college then I can claim to be an independent student.
True
False
___________________________ is funding to a student to help pay for education-related expenses.
Financial Aid
Fee
Room and Board
Loan Entrance Counseling
__________________ is a term referring to the costs of housing and food.
Grant
Pell grant
Supplemental Education Opportunity
Room and Board
A student's basic payment towards the cost of instruction at a college or university. Most institutions also charge these for laboratory equipment and materials, computer use, parking, and other miscellaneous costs.
tuition only
tuition and fees
fees only
tuition, fees, and off-campus non-university housing
Money available from various sources to help students pay college expenses These funds come as loans, grants, or scholarships from the state or federal government or other organizations. Work-study is also a form of this.
financial aid
FASFA
private aid
The amount of time a student has to live in a state before he or she is eligible for in-state tuition prices and state aid.
residency requirements
undergraduate
work-study
non-residency requirements
The date by which your application – whether it’s for college admission, student housing or financial aid – must be received to be given the strongest consideration. Since financial aid is often limited, meeting the priority date is important to be eligible to receive funds.
need-blind admission
net price
transcript
priority date
Financial aid given to students based on their personal achievements. Most scholarships are considered merit aid, as they are generally awarded for success in school, the arts, athletics or another area.
need-based financial aid
merit aid
subsidized loan
unsubsidized loan
State-sponsored investment plans — officially called qualified tuition programs (QTP) — that help families save money for college. The plans have tax benefits so your savings can grow faster. The money in the accounts can be used only for education expenses.
529 Savings Plans
401K
FASFA
merit aid
A measure of your family’s financial strength. States and colleges use this number to help determine your financial aid award. The EFC is calculated using information you supply about your family’s financial circumstances.
FASFA
529 Savings Plans
Expected Family Contribution (EFC)
demonstrated need
The difference between your expected family contribution (EFC) and the total cost of attendance for a particular college.
financial aid
demonstrated need
award letter
net price
