| A | B |
|---|
| Formal Assessment | standardized written or performance test of knowledge, aptitude, values, etc. |
| Formal Learning | done or carried out in accordance with established or prescribed rules |
| Free Application for Federal Student Aid (FAFSA) | Federal Student Aid, a part of the U.S. Department of Education, is the largest provider of student financial aid in the nation, provides grants, loans, and work-study funds for college or career school. |
| Function | an activity or role assigned to somebody or something |
| Global Economy | the interdependent economies of the world's nations, regarded as a single economic system |
| Graduate Degree | college program leading to a master's degree or doctoral degree; advanced study generally following a bachelor's degree. |
| Grant | financial aid that doesn’t have to be repaid (unless, for example, you withdraw from school and owe a refund). |
| Independent Learning | a method or learning process where learners have ownership and control of their learning: they learn by their own actions and direct, regulate, and assess their own learning |
| Inflation | a sharp increase in the costs of goods and services |
| Informal Learning | not officially prepared, organized, or sanctioned |
| Internship | an assistant or trainee working to gain practical experience in an occupation |
| Job Shadowing | short-term experience that allows the student to follow an experienced worker and see the day-to-day activities of a particular career. |
| Lifelong Learning | the continuing development of knowledge and skills that people experience after formal education and throughout their lives |
| Loan | borrowed money you must repay with interest. |
| Local Economy | economic activities of the locale in which you live |
| Master's Degree | an academic degree from a college or university for those who complete at least one year of prescribed study beyond the bachelor's degree. |
| Military | special skills may be developed through educational programs in the armed services. |
| National Economy | economic activities belonging to or characteristic of a nation |
| On-the-Job Training | Employee training at the place of work while he or she is doing the actual job. |
| Preliminary Scholastic Aptitude Test (PSAT) | a practice test that measures the critical thinking, mathematical reasoning, and writing skills that students need to do college-level work. |
