| National Service Trust
|
President Clinton's
national community service program. If you participate in
this program before attending school, the funds may be used
to pay your educational expenses. If you participate after
graduating, the funds may be used to repay your federal
student loans. Eligible types of community service include
education, human services, the environment, and public safety.
|
| Need |
The difference between the
Cost of Education and the Expected Family Contribution (EFC)
is the student's financial need -- the gap between the cost
of attending the school and the student's resources. |
| Need Analysis |
Technique used to determine
a student's need for financial assistance for college expenses.
The analysis determines the family's ability to contribute
to costs compared to the student's cost of attendance. |
| Need-based |
A means of determining eligibility
for certain types of financial aid using financial need
as the determining factor. |
| Negative amortization |
When, on an adjustable-rate
mortgage, interest rates increase faster than monthly payments.
Result: Your balance may grow despite efforts to pay it
down. |
| Net Income |
This is income after taxes,
deductions, and allowances have been subtracted. |
