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Financial Glossary
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Alternative Student Loans for College Financial Aid


Financial Aid Glossary and related terms


Aid Package: Any Financial Aid awarded, specifically Federal loans, grants, scholarships and work-study. This is determined by the Financial Aid counselors at your school's financial office at the respective college of attendance.

Assets: Ready money available in bank account; real property ( not including home ), dividends, bonds, indemnity, business tools, and business records, etc. Measured in defining Expected Family Contribution.

Associates Degree: An educational title intended for significant graduation of certain classes of learning at 2-year colleges.

Auto Debit: An instant withdrawal of money that come right out of the person's bank account that covers the once-a-month school loan expense. The debtor can receive up to a twenty-five percent interest rate cutback with qualifying advances in the course of lively times of reimbursement on condition that expenses are paid on time. In regular terms, the monthly bill is automatically withdrawn out of your checking account and pay your bill. This is very convenient.

Award letter: The method of letting the financial support candidates know of help that is available to them. Award letters will most of the time enclose data dealing with different kinds and sums of aid help available; such as Grants, Stafford Loans Perkins loans, work-study; along with curriculum statistics, obligations, and circumstances that preside the award.

Alternative Student Loan : A credit based, privately financed lending tool used for college and school related expenses. Commonly referred to as a private student loan from Collegiate lenders

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