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State Grants Student Loans FAFSA Financial Aid Terms? Random Education Facts
100
What is the Wisconsin Grant?
This is the primary financial aid program administered by HEAB.
100
What is a Subsidized Loan?
This type of student loan has the loan interest paid for by the Department of Education if a student is enrolled in at least 6 credits.
100
What is Verification?
The process your school uses to confirm that the data reported on your FAFSA is accurate. Your school has the authority to contact you for documentation that supports income and other information that you reported.
100
What is a Master Promissory Note?
A binding legal document that you must sign when you get a federal student loan.
100
What is a Diploma Mill?
An unaccredited school (or a business claiming to be a school) that awards a degree or other credential for a fee while requiring little or no classwork meeting college-level standards.
200
What is HEAB (Higher Education Aids Board) of Wisconsin?
The state agency that administers state funded financial aid programs.
200
What is a Loan Servicer?
A company that collects payments, responds to customer service inquiries, and performs other administrative tasks associated with maintaining a federal student loan on behalf of a lender.
200
What are D,E,F,G,H and S?
These 6 letters represent payments to tax-deferred pension and retirement savings plans (paid directly or withheld from earnings) on an individuals W-2's.
200
What is EFC (Expected Family Contribution)?
This is the number that’s used to determine your eligibility for federal student financial aid.
200
What is 9?
Gateway Technical college has this many board members.
300
What is the Indian Student Assistance Grant?
Awards under this program are made to Wisconsin residents who are at least 25% Native American and are undergraduate or graduate students enrolled in degree or certificate programs at Wisconsin Technical Colleges based in Wisconsin.
300
What are PLUS Loans?
A loan available to graduate students and parents of dependent undergraduate students for which the borrower is fully responsible for paying the interest regardless of the loan status.
300
What is a DRN (Data Release Number)?
The four-digit number assigned to your FAFSA that allows you to give your FAFSA data to schools you did not list on your original FAFSA.
300
What is Adjusted Gross Income?
Your or your family's wages, salaries, interest, dividends, etc., minus certain deductions from income as reported on a federal income tax return.
300
What is Regional Accreditation?
Gateway Technical College holds this type of accreditation status with the Higher Learning Commission (HLC).
400
What is the Minority Undergraduate Assistance Grant?
Awards under this program are made to Wisconsin resident minority undergraduates, excluding first year students, enrolled at least half-time in independent, tribal, or Wisconsin Technical College institutions.
400
What is Loan Rehabilitation?
The process of making 9 on time student loan payments in order to get you Federal student loans out of default.
400
What is an Emancipated Minor?
An individual (under the age of 18) who has legally been determined to be an adult by a court in his or her state of legal residence.
400
What is an Award Letter?
An offer from a college or career school that states the type and amount of financial aid the school is willing to provide if you accept admission and register to take classes at that school.
400
What is Title IV?
This Federal funding program encompasses the Pell grant, SEOG, FWS and Direct Loans just to name a few.
500
What is Hearing and Visually Handicapped Student Grant?
This Grant was established to provide funding for undergraduate Wisconsin residents, enrolled at in-state or eligible out-of-state public or independent institutions who show financial need and have a severe or profound hearing or visual impairment.
500
What are Origination Fees?
These fees are charged at the time a loan is started with the Department of Education.
500
What is an Eligible Non-Citizen?
A U.S. national (includes natives of American Samoa or Swains Island), U.S. permanent resident (who has an I-151, I-551 or I-551C [Permanent Resident Card]), or an individual who has an Arrival-Departure Record (I-94) from U.S. Citizenship and Immigration
500
What is the Cost of Attendance?
The total amount it will cost you to go to school—usually stated as a yearly figure.
500
What is the Montgomery GI Bill?
This Veteran aid program was introduced in 1985 to help fund college for Active Duty Military Members.






Financial Aid

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