Finacial Aid ICEV Vocabulary
- 1. ______________ funding provided to a student to help pay for education-related expenses
A) Room and Board
B) Fee
C) Financial Aid
D) Tuition
- 2. _________ money charged for teaching and instruction provided by a school
A) Fee
B) Financial Aid
C) Tuition
D) Room and Board
- 3. ______money charged for services provided
A) Tuition
B) Room and Board
C) Financial Aid
D) Fee
- 4. ___________ term referring to the costs of housing and food
A) Room and Board
B) Financial Aid
C) Fee
D) Tuition
- 5. __________ financial aid which is a gift and does not have to be repaid; includes grants and scholarships
A) Grant
B) Pell Grant
C) Self-help Aid
D) Gift Aid
- 6. _________ financial aid for which the student must take responsibility; includes work-study and loans
A) Self-help Aid
B) Gift Aid
C) Pell Grant
D) Grant
- 7. __________ sum of money given by an organization for a particular purpose (often education)
A) Grant
B) Self-help Aid
C) Pell Grant
D) Gift Aid
- 8. ___________ federal grant awarded based on financial need; amount depends on a student’s EFC and enrollment status, as well as the cost of attendance
A) Pell Grant
B) Self-help Aid
C) Grant
D) Gift Aid
- 9. __________ sum of money intended to support a student’s education and awarded to the student based on achievement
A) Subsidized Loan
B) Federal Student Loan
C) Scholarship
D) Work-study Program
- 10. _________________ need-based financial aid program allowing students to work a part-time
campus job to help pay for college
A) Subsidized Loan
B) Work-study Program
C) Scholarship
D) Federal Student Loan
- 11. ____________________ sum of money borrowed from the federal government to pay for college;
typically have lower interest rates and more flexibility than private loans
A) Scholarship
B) Subsidized Loan
C) Work-study Program
D) Federal Student Loan
- 12. ______________ loan which does not accrue interest while in school or during the six-month
deferment period after graduation
A) Federal Student Loan
B) Scholarship
C) Work-study Program
D) Subsidized Loan
- 13. _______ loan which accrues interest from the time it is borrowed, including while the borrower is in school
A) Unsubsidized Loan
B) Free Application for Federal Student Aid (FAFSA)
C) Subsidized Loan
D) Expected Family Contribution (EFC) measure of a family’s financial
- 14. ______________ form used to apply for federally funded financial aid; also used by some states
and colleges to determine eligibility for state- and college-funded aid; includes questions concerning income, financial situation and demographic data
A) Subsidized Loan
B) Free Application for Federal Student Aid (FAFSA)
C) Unsubsidized Loan
D) Scholarship
- 15. ability used to determine eligibility for financial aid; calculated according to a formula which considers income, assets, family size and number of family members in college
A) Expected Family Contribution (EFC) measure of a family’s financial
B) Free Application for Federal Student Aid (FAFSA)
C) Subsidized Loan
D) Scholarship
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