Your Finances; Your Future

Financial Glossary

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The Free Application for Federal Student Aid is a form that can be prepared annually by current and prospective college students (undergraduate and graduate) in order to determine their eligibility for federal student financial aid.

Financial Literacy

Having knowledge of financial matters and applying that knowledge to one's life.

Financial Plan

A document that describes your current financial status, your financial goals and when you want to achieve them, and strategies to meet those goals.


Permitting the temporary halting of loan repayments, allowing an extension of time for making loan payments, or accepting smaller loan payments than were previously scheduled.


To take possession of a mortgaged property as a result of the borrower's failure to make mortgage payments.