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Financial Aid Dictionary: Top Terms Related to Grants, Work-study, and Student Loans


Federal Student Aid

2023-24 FAFSA form updates coming soon; start 2024-25 FAFSA at fasfa.gov. Financial aid dictionary explains terms like award year, loan consolidation, cost of attendance, default, deferment, dependency status, Direct Loan, entrance/exit counseling, Expected Family Contribution, Extended Repayment Plan, forbearance, grace period, Graduated Repayment Plan, grant, income-driven repayment plan, interest capitalization, interest rates, loan servicer, Master Promissory Note, origination fee, Federal Pell Grant, PLUS loan, private student loan, refinancing, satisfactory academic progress, scholarship, Standard Repayment Plan, Student Aid Report, subsidized/unsubsidized loan, and work-study….

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