College & Financial Aid Vocabulary UPDATED Questions and CORRECT Answers
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Course
College & Financial Aid
Institution
College & Financial Aid
College & Financial Aid Vocabulary
UPDATED Questions and CORRECT
Answers
Award Letter - CORRECT ANSWER- document from college that explains terms of the
financial aid the college is offering you; information includes types and amounts of financial
aid offered, what you're expected to do to ...
College & Financial Aid Vocabulary
UPDATED Questions and CORRECT
Answers
Award Letter - CORRECT ANSWER- ✔✔document from college that explains terms of the
financial aid the college is offering you; information includes types and amounts of financial
aid offered, what you're expected to do to keep the award and a deadline for accepting the
award.
Bursar - CORRECT ANSWER- ✔✔College official responsible for handling billing and
payments for tuition, fees, housing and other related expenses.
College Credit - CORRECT ANSWER- ✔✔When a college grants credit for a course, it
means that passing that course counts toward a degree. Colleges may also grant degree credit
for scores on exams.
Cost of Attendance - CORRECT ANSWER- ✔✔total amount of college expenses before
financial aid. Cost of attendance includes money spent on tuition and fees, room and board,
books and supplies, and living expenses.
CSS/Financial Aid PROFILE - CORRECT ANSWER- ✔✔Financial aid application used by
more than 400 colleges, universities and private scholarship programs to award their financial
aid funds; service through The College Board.
Demonstrated Need - CORRECT ANSWER- ✔✔difference between your expected family
contribution (EFC) and the total cost of attendance for a particular college.
Expected Family Contribution (EFC) - CORRECT ANSWER- ✔✔Measure of your family's
financial strength. States and colleges use this number to help determine your financial aid
award. The EFC is calculated using information you supply about your family's financial
circumstances.
Financial Aid - CORRECT ANSWER- ✔✔Money given or loaned to you to help pay for
college. Financial aid can come from federal and state governments, colleges, and private and
social organizations.
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