Learn the meaning of terms most commonly used in the financial aid process.
of financial aid that must be repaid with interest.
Loans- Federal Stafford Loans borrowed by the student and can be subsidized or
unsubsidized by the government based on the FAFSA.
(Private) Loans- A commercial education loan based on credit-worthiness. It
usually requires a co-signer.
Loans- The Federal PLUS loan is borrowed by the parent. It does require the
parent to be credit-worthy.