Tab 04 · Flashcards
Flashcards
The vocabulary of education grants and aid, one card per word.
- Award letter
- A school’s summary of the aid it is offering: grants, scholarships, work-study and any loans, usually with amounts and deadlines.
- Cost of attendance
- A school’s estimate of a year’s costs, including tuition, fees, housing, food, books and personal costs. An estimate, not a bill.
- Deadline
- The date by which a form, reply or document must be received. Federal, state and school dates are set separately.
- Disbursement
- The payment of aid to your school account or to you, often in installments by term.
- Eligibility
- The conditions a program sets for who can receive an award. Decided by the program, never by this website.
- Enrollment status
- Whether you attend full time, part time or less. Many awards depend on it.
- Federal Student Aid
- The U.S. Department of Education office that runs federal student aid programs. Its official site is studentaid.gov.
- Financial aid office
- The office at a school that explains, packages and administers aid.
- Grant
- Money toward school costs that generally does not have to be repaid when program rules are met.
- Institutional aid
- Aid that comes from a school’s own funds.
- Loan
- Borrowed money that must be repaid, usually with interest.
- Merit-based
- Awarded for achievement, talent or another stated strength rather than financial circumstances.
- Need-based
- Awarded in response to financial circumstances, as defined by the program.
- Renewable
- An award that can continue in later years if you keep meeting its conditions.
- Satisfactory academic progress
- A school’s standard for grades and course completion that students must meet to keep receiving aid.
- Scholarship
- An award, usually based on a stated criterion, that generally is not repaid.
- State grant
- A grant run by a state agency for residents, often with its own form and deadline.
- Verification
- A process in which a school asks you to confirm information you gave on your aid forms.
- Work-study
- A part-time job, funded in part through a program, whose pay helps cover costs.