Financial Aid Terms and Definitions

An Award Letter is:

• A document detailing the financial aid package offered to a student

• A certificate of achievement

• A letter of recommendation

• A job offer letter

What does Cost of Attendance include?

• Tuition and fees

• Room and board

• Books and supplies

• All of the above

What is a Student Aid Report (SAR)?

• A report that provides information about financial aid eligibility

• A document required for college admission

• A report card for students

• A scholarship application form

What is Estimated Family Contribution (EFC)?

• A measure of your family's financial strength

• A type of student loan

• A scholarship program

• A tax deduction

What is FAFSA®?

• Free Application for Federal Student Aid

• Federal Application for Student Assistance

• Financial Aid for Students and Families

• Federal Aid for Student Applications

A Grant is:

• A type of loan

• A financial award given by an entity

• A form of tax

• A type of investment

What is a Federal Direct Loan?

• A type of student loan offered by the federal government

• A private loan offered by banks

• A grant that does not need to be repaid

• A scholarship based on academic performance

A Financial Aid Package is:

• A loan from a bank

• A scholarship or grant

• A combination of different types of financial assistance

• A payment plan for tuition fees

Financial Need is:

• The amount of money required to pay for college

• A type of investment

• A financial term for profit

• A loan from a bank

What is Cal Grant?

• A federal student aid program

• A promissory note

• California specific money that does not require repayment

• A fee charged when you take out a loan