Funding Post High School Education Flashcards
A higher education institution designed to make a profit for its shareholders; comes with higher tuition and fees
For-Profit University
A higher education institution which receives government funding and does not create income for investors
State University
A training program which usually has no tuition costs because you learn the skills you need while on the job, and get paid for working.
Apprenticeship
A type of education for specific trades which combines classroom learning (requiring tuition) and some on the job training
Technical or Trade School
Why fill out the FAFSA?
Access to Federal Student Aid; also required by most universities to qualify for other types of aid like scholarships
A type of federal student aid that does not have to be repaid and is based on financial need
Grant
A type of federal student aid that must be repaid but comes with lower interest rates than private loans
Federal Student Loan
A type of federal student aid which provides on-campus job opportunities and is based on financial need
Work Study
A tax-advantaged savings account designed for post-high school education costs
529 Plan
A type of financial aid that is NOT federal, does not need to be repaid, and is based on merit (high GPA, sports, music etc)
Scholarship (aka Merit Aid)
