- Pell Grants
- A Pell Grant is a federal needs based award.
- Perkins Loan
- A Perkins Loan is a federal financial aid program that consists of low interest loans for both undergraduate and graduate students. To be eligible the student must have an exceptional financial need. Loans are determined by each college.
- PLUS Loan
- A PLUS loan is a federal loan which allows parents to borrow money for a student's college education.
Portfolio Assessment- Getting credit for what you already know. It’s often called “Credit for
Prior Learning or Credit for Life Experience,” or something similar. You
prepare, with the assistance of college staff, a portfolio that presents
your experiences, learning that has resulted, and evidence or documentation
that you’ve learned these things. Includes such things as work experience
(paid or volunteer), community activities, hobbies, travel, independent
study and formal training not taken in college.
- Post Secondary
- This term simply means "after high school." Generally this includes two and four year colleges as well as vocational and technical schools.
- Preliminary Scholastic Assessment Test, PSAT / National Merit Scholarship Qualifying Test, NMSQT
- This is a practice test that helps students prepare for the Scholastic Assessment Test . The PSAT is usually given to tenth and eleventh grade high school students. Students who perform well may qualify for the National Merit Scholarship Program.
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- Preliminary Scholastic Assessment Test (PSAT)/National Merit Scholarship Qualifying Test
- This test, given in October, duplicates the kinds of questions asked on the SAT but is shorter and takes less time. Usually taken in the junior year, the test also acts as a qualifying instrument for the National Merit Scholarship Awards Program and is helpful for early college guidance.
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- Prerequisite
- A course required in preparation for another, usually more advanced
course.
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- Probation
- Status of a student whose grades or conduct is below that usually
required. It is a trial period in which specified conditions must be met
before regular student status is restored. May also refer to financial aid
probation.
- Promissory Note
- A legal document that specifies the terms
and conditions of a loan.
- Principal
- This financial term refers to the total face value or the amount of money you place in a savings instrument on which interest is earned.
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