Finacial Aid ICEV Vocabulary
- 1. ______________ funding provided to a student to help pay for education-related expenses
A) Tuition
B) Financial Aid
C) Room and Board
D) Fee
- 2. _________ money charged for teaching and instruction provided by a school
A) Room and Board
B) Fee
C) Tuition
D) Financial Aid
- 3. ______money charged for services provided
A) Fee
B) Tuition
C) Financial Aid
D) Room and Board
- 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) Self-help Aid
B) Gift Aid
C) Pell Grant
D) Grant
- 6. _________ financial aid for which the student must take responsibility; includes work-study and loans
A) Gift Aid
B) Grant
C) Pell Grant
D) Self-help Aid
- 7. __________ sum of money given by an organization for a particular purpose (often education)
A) Gift Aid
B) Self-help Aid
C) Grant
D) Pell Grant
- 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) Self-help Aid
B) Pell Grant
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) Work-study Program
B) Federal Student Loan
C) Scholarship
D) Subsidized Loan
- 10. _________________ need-based financial aid program allowing students to work a part-time
campus job to help pay for college
A) Federal Student Loan
B) Subsidized Loan
C) Work-study Program
D) Scholarship
- 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) Federal Student Loan
B) Scholarship
C) Work-study Program
D) Subsidized Loan
- 12. ______________ loan which does not accrue interest while in school or during the six-month
deferment period after graduation
A) Scholarship
B) Federal Student Loan
C) Subsidized Loan
D) Work-study Program
- 13. _______ loan which accrues interest from the time it is borrowed, including while the borrower is in school
A) Unsubsidized Loan
B) Expected Family Contribution (EFC) measure of a family’s financial
C) Free Application for Federal Student Aid (FAFSA)
D) Subsidized Loan
- 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) Free Application for Federal Student Aid (FAFSA)
B) Unsubsidized Loan
C) Scholarship
D) Subsidized Loan
- 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) Subsidized Loan
B) Expected Family Contribution (EFC) measure of a family’s financial
C) Free Application for Federal Student Aid (FAFSA)
D) Scholarship
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