Educational fund keeps varying rates of interest and payment words

Educational fund keeps varying rates of interest and payment words

NASFAA Glossary out-of School funding Words

Cost of Attendance (COA): The estimated cost of attending this institution for one academic year. This amount includes the following:

Expected charges for one year of tuition and fees –
Tuition – Charges assessed for classes
Fees – Charges assessed for other college services
Room and board for resident students –
Estimated living expense — allowance for rent, utilities, and food for off-campus living
Estimated transportation costs
Estimated books and supplies
Miscellaneous costs

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Educational Mortgage: A form of financial aid that must be repaid with interest. Students and/or parents are required to sign a promissory note when accepting an educational loan.

Government Head Student loan: Loan funds provided to the student by the U.S. Department of Education, through the school. Repayment of principal begins six months after the borrower ceases to be a student on at least a half-time basis. The Free Application for Federal Student Aid (FAFSA) is the annual application. There are two types of Federal Direct Student Loans: subsidized and unsubsidized. Students who don’t demonstrate financial need qualify for an unsubsidized loan and interest accrues while the student is in school. […]