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) Financial Aid
B) Fee
C) Tuition
D) Room and Board
- 3. ______money charged for services provided
A) Tuition
B) Financial Aid
C) Fee
D) Room and Board
- 4. ___________ term referring to the costs of housing and food
A) Room and Board
B) Tuition
C) Financial Aid
D) Fee
- 5. __________ financial aid which is a gift and does not have to be repaid; includes grants and scholarships
A) Pell Grant
B) Gift Aid
C) Self-help Aid
D) Grant
- 6. _________ financial aid for which the student must take responsibility; includes work-study and loans
A) Grant
B) Gift Aid
C) Self-help Aid
D) Pell Grant
- 7. __________ sum of money given by an organization for a particular purpose (often education)
A) Pell Grant
B) Self-help Aid
C) Gift Aid
D) 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) Gift Aid
B) Pell Grant
C) Grant
D) Self-help Aid
- 9. __________ sum of money intended to support a student’s education and awarded to the student based on achievement
A) Subsidized Loan
B) Scholarship
C) Work-study Program
D) Federal Student Loan
- 10. _________________ need-based financial aid program allowing students to work a part-time
campus job to help pay for college
A) Scholarship
B) Federal Student Loan
C) Work-study Program
D) Subsidized 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) Work-study Program
B) Federal Student Loan
C) Subsidized Loan
D) Scholarship
- 12. ______________ loan which does not accrue interest while in school or during the six-month
deferment period after graduation
A) Scholarship
B) Subsidized Loan
C) Work-study Program
D) Federal Student Loan
- 13. _______ loan which accrues interest from the time it is borrowed, including while the borrower is in school
A) Free Application for Federal Student Aid (FAFSA)
B) Unsubsidized Loan
C) Expected Family Contribution (EFC) measure of a family’s financial
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) Scholarship
B) Subsidized Loan
C) Free Application for Federal Student Aid (FAFSA)
D) Unsubsidized 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) Free Application for Federal Student Aid (FAFSA)
B) Scholarship
C) Expected Family Contribution (EFC) measure of a family’s financial
D) Subsidized Loan
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