Financial Aid Process Quick Check

1. What is a grant?

a quantity of money, i.e., financial assistance, given by a government, organization, or person for a specific purpose

2. What is a scholarship?

an amount of money given to somebody by an organization to help pay for their education

3. What is the Free Application for Federal Student Aid?

a form completed by current and prospective college students (undergraduate and graduate) in the United States to determine their eligibility for financial aid

4. What is a student loan?

money that has to be repaid and incurs interest, designed to help students pay for postsecondary education and the associated fees, such as tuition, books and supplies, and living expenses

5. What is a grant?

money awarded to a student, often based on financial need, for a specific purpose (like tuition) by a government or an organization