Terms Related To College Tuition and Financial Aid

Tuition: It is fees that students have to pay to colleges for attending the college. It does not include room and board, textbooks, or other fees.

Required Fees: It refers any type of fees excepting tuition.

Book and Supplies: It refers to the cost for purchasing textbooks and other supplies that classes requires.

Living Cost: It sums costs for Room and Board and Other expenses for daily life.

Room and board: The cost for sleeping and eating. Usually, the cost depends on type of stay: On-Campus and Off-Campus.

Scholarships: Scholarships are primarily awarded for academic merit (good grades) or for something you have accomplished (volunteer work or a specific project);

Federal student aid: FSA is the largest provider of student financial aid in the United States. Federal Student Aid (FSA) provides student financial assistance in the form of grants, loans, and work-study funds.

Financial need: It refers to the amount of a student's total cost of attendance that isn't covered by the expected family contribution or outside grants and scholarships.

Federal student loan: It refers to a form of financial aid that must be repaid, in contrast to other forms of financial aid such as scholarships and grants. Student loans play a very large role in U.S. higher education. In most of the rest of the developed world, higher education is provided free (or highly subsidised) at the point of service, and funded through general tax revenues. don't have to be paid while you're in college, and there are also a variety of loan forgiveness programs out there post-graduation. The rates and terms are generally more flexible than private loans.

Grants: Unlike loans, grants provide funds for college that is non-repayable.

*some contents of this page are from Wikipedia