Term Definition
apprenticeship A learning period of up to five years including on-the-job training (with pay) and additional coursework at night.
career ladder Upward movement from an entry-level job to the job that is a final goal.
college A four-year institution of learning where students earn an undergraduate degree (BA or BS degree).
cooperative education When a degree program is combined with an internship in a company as part of practical education in a field.
grants and scholarships Money to pay for college that does not need to be paid back.
internship Time spent working for a company in an industry of interest. They can be paid or unpaid and can last from six weeks to a year.
occupational training programs These range from a half day weekly during high school to two-year, full-time programs spent learning a trade such as firefighting, medical technology, or IT network management.
university An organization of advanced education that has the necessary certification to award graduate or undergraduate degrees.
FAFSA is the Free Application for Federal Student Aid. This is the main form students use to apply for federal education grants and loans. The amount of money a student is given or loaned depends on several factors, such as your family’s income,
Private Student Loans Private Student Loans are financed by private companies rather than the government. Since interest rates and fees for these loans aren’t capped by the government, they cost more than federal loans.
Perkins Loan One of the most common types of federal student loan, awarded based on limits that are set for any individual loan as well as on financial need. Perkins loans have a set 5% interest rate and a 10 year repayment period.
Federal Student Loans Federal Student Loans are offered directly to students by the government. Federal law sets the maximum interest rates and fees lenders may charge for these loans. Because of this, their interest rates
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