Potential Magazine College and Career Organizer 2020 | Page 65

SCHOLARSHIPS &
FINANCIAL AID
Parent Plus Loan - Loan offered to parents of students enrolled at
least half time.
Cosigner - A parent, guardian, spouse, relative, or even a family
friend that agrees to share responsibility with the student borrower
for repaying the student loan in the event that the student is unable to
make the required payments.
FAFSA (Free Application for Federal Student Aid) - Form
submitted annually by current and prospective college
students to determine their eligibility for loans and grants;
required by many colleges for admission.
Financial Aid - Money given or loaned to help students pay for
their education; covers expenses including tuition and fees, room and
board, books and supplies, and transportation.
Loan Forgiveness - A program that forgives the remaining
balance on federal Direct Loans after a qualified borrower makes 120
qualifying monthly payments under a repayment plan while working
full-time for a public service employer.
Pell Grant - Money provided to college students with financial need
by the U.S. federal government.
Private Scholarship - Scholarship awarded by an organization not
affiliated with a college.
Sallie Mae Loan - Private, non-subsidized loan for parents and/or
college students.
Stafford Loan - Need-based student loan that does not require a
cosigner or credit score.
Subsidized - Loans for undergraduate students with financial need
that do not accrue interest while you are in school at least half-time or
during deferment periods.
Merit Scholarship - Financial award based on high school GPA and
standardized test scores; students are automatically considered when
their application is submitted.
WELDING: It’s a Career!
START SMART. START HERE.
TRAIN FOR MORE THAN A JOB.
TRAIN FOR A CAREER.
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College Organizer 2020 | 65