- Gap
- The difference between the amount of a financial aid package and the cost of attending a college or university. The student and his/her family are expected to fill the gap.
- GED, General Educational Development Diploma
- A GED is the certificate a student receives if they have passed a high school equivalency test. Even if you don't have a high school diploma, a GED will still qualify for Federal student aid.
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- Grade Point Average (GPA)
- The number calculated by dividing the total grade points (see Grade
Points) earned by total credit hours taken. A quarter or semester grade
point average is only for that term. A cumulative grade point average is for
all the credit hours taken at a high school, college or university.
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- Graduate
- A person who received a high school diploma or college degree, usually a
Bachelor’s degree. A graduate student is someone working on degree beyond
the Bachelor’s degree, usually a Master’s or Doctorate degree. A graduate
school is the division of a college or university that offers a Master’s or
Doctorate degrees.
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- Grants
- A type of financial aid award that does not have to be repaid.
Grants are often made based on an applicant's financial need or EFC
- Greek Life
- This phrase refers to sororities and fraternities. These organizations often have great impact on the campus social life of a college or university.
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- Guarantee Fee
- A type of fee a borrower pays to a lender. Guarantee fees are collected
as a financial reserve to protect the loan program in cases of student
default. Federal Stafford, PLUS and Federal Direct Student loans guarantee
fee is a maximum of 1% of the loan's principal balance.
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