Financial Aid

12 cards·by cheywalker

What are scholarships?

Sponsored, merit-based awards

What are grants?

Need-based contributions to aid in a student's college costs

What are grants funded by?

Federal agencies or the state government

What are subsidized loans?

Need-based; best options for you and your family

Who pays the interest for subsidized loans?

The federal government

What are un-subsidized loans?

Loans where the rate builds up as soon as the loan itself is taken out

What are private loans?

Loans offered by financial institutions, interest rate and repayment terms may vary

What should be your last resort?

Private loans

What supplies about 75% of all student aid?

The federal government

What is FAFSA?

A form that is used for awarding federal aid, as well as institutional aid

How do you apply for FAFSA?

Complete the Web Worksheet, and then submit the form on fafsa.ed.gov

What should you consider before applying?

Additional fees, room and board, books, transportation, and personal expenses