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| a financial assistance is driven by the financial circumstances of the family. this assistance specifically targets lower income households |
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| allow college students to eat at campus dining facilities even if they live off campus. they are often a bargain compared to fast food and may be more convenient than eating all the meals at a distant apartment |
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| financial aid officer (FAO) |
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Definition
| key officer at each school who decides who is eligible for how much financial aid and what kind of aid they are to receive |
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| require a two-year course of study, usually at a community college, that often is in a vocational discipline rather than preparatory to advancing to a four-year program |
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| Free Application for Federal Student Aid |
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| is the main federal form used to qualify for financial aid. it is a detailed questionnaire about your family's income and assets |
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| in college financial aid is the difference between what you can afford and what the college costs. the FAO is responsible for presenting you with an aid package that addresses some or all of your need |
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Term
| expected family contribution (EFC) |
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Definition
| is the amount of money the college expects you to pay toward the total cost. the difference between that number and the actual cost of all college expenses for the year is your "need" and that is what the financial aid tries to cover |
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| are a way to prepay college costs by paying a set price for tuition credits today that can be used in the future by your children. however with college costs rising at a rate faster than many state university systems anticipated, many have stopped selling the credits or capped their future value |
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| is an investment strategy that uses borrowed money to increase buying power. investors with good credit can borrow up to 50% of the value of their assets from their broker. usually the money is used to buy more stock. the investor must maintain the value of the account at a certain level. if the price of stock begins to fall the investor will be asked to put more money into the account or sell the stock and pay off the margin loan. this is known as a margin call |
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