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personal finance

QuestionAnswer
What does financial need mean? Financial need means the difference between the cost of attending a particular school and the expected
Define Deferment Postponement of payment on a loan allowed under certain conditions when interest does not accrue
Define Scholarship Money awarded to students that does not have to be repaid and is based on academic or other achievements
Define Loan Default Failure to pay a loan according to the agreed upon terms.
Define Forbearance Stop or reduce loan payments for a short period of time while interest still accruing
Define Subsidized Loan A need-based loan from the federal government, the interest of which is paid for by the U.S. Department of education
Define Grant A tax-exempt financial aid that may be given for many purposes not necessarily just for education
what does FAFSA stand for? Free financial aid calculator that provides an early estimate of federal student aid eligibility
Created by: haleybug200
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