Gift Aid – are grants and scholarships which do not require repayment from present or future earnings.

Grade point average (GPA) - is the average of a student's grades, generally where grades have been converted to a 4.0 scale.

Grace Period - the short time period after student’s graduation during which the borrower isn't required to begin repaying her or his loan. Loan principal need not be paid and, generally, interest does not accrue during this period. There is no grace period for PLUS loans. That's 6 months for Stafford loans, 9 months for Perkins loans.

Grant – is a gift aid, financial aid that does not require repayment. There are federal, state and university grants. Most grant awards are based on the financial need of the student.

Guarantee is a promise to pay a debt if the borrower fails; the government or guaranty agency guarantees (insures) federal loans.

Guarantor is a non-profit organization that guarantees that if a borrower defaults, it will pay on the loan.

Guaranty Agency insures loans made under the Federal Family Education Loan Program against default.

Guarantee Agency – administers the governmental aid programs in their state. The agency deals with insuring the loans and sets limitations within federal guidelines.

Guaranteed Student Loan – it is more widely known as the Stafford Loan.

Guaranteed Tuition Plan - guarantees a single, agreed-upon student tuition rate from enrollment to graduation. It is often used as an incentive for enrollment.