Application |
an appeal or request for college admission or employment She completed an application form for graduate school at the local college. |
Deferred |
to be suspended until a future time Repayment of his student loan was deferred while he was attending medical school. |
Educational Tax Credit |
income tax credit allowed for school expenses such as academic costs and tuition His parents were able to get an educational tax credit while he was attending college. |
Financial Aid |
Money such as scholarships, loans or work-study earnings used to support educational needs. Financial aid applications can require many hours to complete. |
Fixed Interest |
a loan rate that does not change during the loan period Many people choose fixed interest loans so they can budget for the amount they have to pay back each month. |
Grant |
a sum of money given by a government or non-profit organization to fund educational study usually not requiring repayment The government issues some grants based upon income and need. |
Interest Rate |
the percentage charged for the use of a sum of money The interest rate for student loans can vary from bank to bank. |
Loan |
money lent at an interest rate for a period of time He took out a loan because attending college is expensive. |
Repayment |
reimbursement or a return of funds borrowed Some loans have a grace period before repayment is required. |
Tuition |
the fee for instruction for a school, college or university Tuition is usually higher at private schools than state schools. |
Work-study |
a program that enables students to combine academics with job experience or a job opportunity offered as part of a financial aid package Students with work-study experience often have an advantage when applying for a job. |