Glossary
| Term | Description |
|---|---|
| Pell Grants |
These are federal grants intended to help the most financially needy students. The maximum set by Congress for 2003-2003 is $4,000. |
| Perkins Loans |
This is a Federal financial aid program that consists or low-interest loans for undergraduates and graduate students with exceptional financial need. Loans are awarded by the school. |
| PLUS Loans |
These Federal loans allow parents to borrow money for their children's college education. |
| Postsecondary |
This term means "after high school" and refers to all programs for high school graduates, including programs at two-and four-year colleges and vocational and technical schools. |
| Principal |
This refers to the face value or the amount of money you place in a savings instrument on which interest is earned. |
| Proprietary |
This is a term used to describe postsecondary schools that are private and are legally permitted to make a profit. Most proprietary schools offer technical and vocational courses. |
| PSAT/NMSQT |
This stands for the Preliminary Scholastic Assessment Test/National Merit Scholarship Qualifying Test, a practice test that helps students prepare for the Scholastic Assessment Test (SAT I). The PSAT is usually administered to tenth or eleventh grade students. Although colleges do not see a student's PSATINMSQT score, a student who does very well on this test and who meets many other academic performance criteria may qualify for the National Merit Scholarship Program. |
