Parents Glossary

Below is an alphabetical glossary of terms commonly encountered during the college admission process, including financial aid terms. Familiarizing yourself with these terms will be helpful as you and your student proceed through the process.

A • B • C • E • F • G • H • I • L • M • N • O • P • R • S • T • U • V • W

A

ACT: A multiple-choice test to measure ability in English, mathematics, reading, and science. An optional writing test measures ability to plan and write a short essay. Students usually take this test during their junior or senior year of high school.

Admissions decisions:

Admit — You’re in! You are being offered admission to the college to which you applied.
Deny — You are not in. The decision is made by the college or university admissions committee.
Waiting List — You are not admitted but have been placed on a waiting list in case openings become available.

Advanced Placement Program: The College Board offers exams and courses so students can earn credit for college subjects studied in high school. Tests are scored on a scale from one to five, with five being the highest.

Aid Package: A combination of financial aid (scholarships, grants, loans, and/or work-study) determined by the financial aid office of a college or university.

Award Letter: An official document issued by the college/university financial aid office listing all the financial aid they can give the student. The award letter includes information about the cost of attendance and terms and conditions of the aid offered.

B

B.A. or B.S.: B.A. stands for Bachelor of Arts, and B.S. stands for Bachelor of Science. Both degrees can be earned at four-year colleges. The degree awarded depends on the courses taken.

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C

Candidates Reply Date Agreement (CRDA): If admitted to a college, a freshman/first-year student does not have to reply until May 1. This allows time to hear from all the colleges to which the student applied before having to make a commitment to any of them. This is especially important because financial aid packages vary from one school to another, and the CRDA allows time to compare packages before deciding.

Citizen/Eligible Non-Citizen: To be eligible for federal student aid, the borrower must be a (1) U.S. citizen; (2) U.S. national (including natives of American Samoa or Swain's Island ); or (3) U.S. permanent resident (who has an I-151, I-551, or I-551C Alien Registration Receipt Card). If not in one of these categories, the borrower must have an Arrival-Departure Record (I-94) from the U.S. Citizenship and Immigration Services (ICE, formerly INS) showing one of the following designations: "Refugee," "Asylum Granted," "Indefinite Parole" and/or "Humanitarian Parole," or "Cuban-Haitian Entrant, Status Pending." If the borrower has only a Notice of Approval to Apply for Permanent Residence (I-171 or I-464), the borrower is not eligible for federal student aid. If the borrower is in the U.S. on an F1 or F2 student visa only, or on a J1 or J2 exchange visitor visa only, or with a G series visa, then the borrower is not eligible for federal student aid.

College-Preparatory Subjects: Courses taken in high school that are viewed by colleges and universities as a strong preparation for college work. The specific courses are usually in the five majors area of English, history, world languages, mathematics, and science. The courses may be regular, honors-level, or AP offerings, and the latter two categories are often weighted when calculated in the GPA.

Course Load: The number of course credit hours a student takes in each semester. Twelve credit hours is the minimum to be considered a full-time student. The average course load per semester is 16 credit hours.

Credit Hours: The number of hours per week that courses meet are counted as equivalent credits for financial aid and used to determine your status as a full- or part-time student.

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E

Early Action: A college admissions program that has earlier deadlines and notification dates than the regular admissions process but does not require a binding commitment from the student if admission is offered. The student applying under this program may apply to many schools. The student will not know what financial aid will be awarded before committing.

Early Decision: A program with earlier deadlines and notification dates than the regular admissions process. Students who apply "early decision" commit to attending the school if admitted. (Early decision can be applied to only one school.) The student will not know what financial aid will be awarded before committing.

Educational Testing Service (ETS): Company that produces and administers the SAT and other education achievement tests.

Estimated Financial Assistance (EFA): The school's estimate of the amount of financial assistance that a student has been or will be awarded for the enrollment period for which a loan is sought. The EFA includes assistance from federal, state, institutional, scholarship, grant, financial need-based employment, or other sources.

Expected Family Contribution (EFC): The amount a family is expected to contribute to a student's education. EFC is calculated based on family earnings, net assets, savings, and size of family and number of students in college.

Federal Family Education Loan Program (FFELP): The Federal Stafford, Federal PLUS, Federal SLS, and Federal Consolidation Loan programs. These programs offer loans that are funded by private lenders, guaranteed by guarantors, and reinsured by the federal government.

Federal Processor: The organization that processes the information on the Free Application for Federal Student Aid (FAFSA) and computes eligibility for federal student aid.

Federal Work-Study Program (FWS): A program that provides part-time jobs to undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses.

Financial Aid: Monetary assistance in the form of scholarships, grants, work-study, and loans for education.

Financial Aid Award Letter: A letter detailing the total amount of financial aid (federal and nonfederal) such as scholarships, grants, loans, and/or work-study for which a student is eligible.

Financial Aid Package: The total amount of financial aid (federal and nonfederal) such as scholarships, grants, loans, and/or work-study for which a student is eligible.

Financial Need: The difference between the cost of attendance at a school and the Expected Family Contribution (EFC).

Free Application for Federal Student Aid (FAFSA): The form a student must complete to apply for federal Title IV financial assistance, including FFELP loans. The student must include financial information about his or her household so the Expected Family Contribution (EFC) can be calculated.

General Education Development (GED): A certificate students receive instead of a diploma if they have passed a specific approved high school equivalency test.

Gift Aid: Financial aid, such as grants and scholarships, that does not need to be repaid.

Grade-Point Average (GPA): An average of a student's grades with the grades converted to a numerical scale: usually 4.0 is an A, 3.0 is a B, and 2.0 is a C, but other scales might be used.

Grant: A financial aid award that does not have to be repaid. Grants are available through the federal government, state agencies, colleges, and universities.

Greek Life : This phrase refers to sororities and fraternities. These organizations often have great impact on the campus social life of a college or university and often undertake service projects.

Home-Schooled Student: Someone who is taught by a parent or a tutor instead of attending a traditional public or private institution.

Honors Program: Honors programs offer an enriched educational experience that often includes small class size, custom-designed courses, mentoring, enriched individualized learning, hands-on research, and publishing opportunities. A handpicked faculty guides students through the program.

Hope Scholarship: A federal tax credit (enacted in 1997) that is available for tuition and required fees less grants, scholarships, and other tax-free financial assistance to borrowers who meet the qualifications of the program. It may provide a family up to $1,500 in tax credit per year per dependent student for the first two years of post-secondary education. The student must be pursuing a degree at least half time to be eligible.

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I

Independent Student: A student who is either married, 24 years old or older, enrolled in a graduate or professional education program, has legal dependents other than a spouse, is an orphan or ward of the court, or a veteran of the U.S. Armed Forces.

International Student: Someone who is not a U.S. citizen or permanent resident who plans to attend or is attending a college, university, or other post-secondary educational institution in the U.S.

Internship: An experience during the academic year or the summer months in which a student receives supervised practical training in their academic or career field. The student may or may not be compensated for the work.

Lifetime Learning Credit: A federal tax credit enacted in 1997 that is available for qualified tuition and related expenses to borrowers who meet the qualifications of the program. It may provide a family up to $1,000 in tax credit per year per tax return for an unlimited number of years. The student is not required to be pursuing a degree at least half time.

Major : The concentration of a number of credit hours in a specific subject. Colleges and universities often specify the number of credits needed to complete a major, the sequence of courses, and the level of course work necessary to complete the requirements.

Minor: An area of concentration with fewer credits than a major. The minor can be related to the major area of concentration or not; for example, an English major may have a minor in theater.

Need: The difference between the cost of education (COE) and the expected family contribution (EFC) is the student's financial need. It is the gap between the cost of attending the school and the student's resources.

Need Analysis: A technique used to determine a student's need for financial assistance for college expenses. The analysis determines the family's ability to contribute compared to the student's cost of attendance.

Need-Based: Describes education funding that uses financial need as the determining factor. It is a means of determining eligibility.

Nonmatriculated : A student who is not officially enrolled and working toward a degree but who is taking classes.

Open admission: When most or all students who apply to a college are admitted.

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P

Parent's Contribution (PC): The amount parents can be expected to provide each year to the cost of the student's education as determined by the Federal Methodology.

Pell Grant Program: The largest federal grant program. The college, based on federal guidelines, determines eligibility and award amounts.

Perkins Loans: A low interest (5%) loan for undergraduate and graduate students with exceptional financial need. The school is the lender, and the loan is made with government funds with a share contributed by the school. The loan is repaid to the school.

Permanent Resident of the United States : A person who meets certain requirements of the U.S. Citizenship and Immigration Services (CIS). Valid documentation of permanent residency includes the following: I-551, I-151, I-181, I-94, or a passport stamped for I-551, "Temporary evidence of lawful admission for permanent residence."

PIN: Personal identification number. A code entered into a computer and/or telephone systems to authenticate the user.

Post-Secondary: Refers to all programs for high school graduates, including programs at two- and four-year colleges and vocational and technical schools.

PSAT/NMSQT: The Preliminary Scholastic Assessment Test/National Merit Scholarship Qualifying Test, which helps prepare students for the SAT and is part of the qualifying criteria for the National Merit Scholarship program. A student usually takes this test as a high school sophomore or early in the junior year.

Registration: The process of choosing classes and enrolling in them.

Reserve Officers’ Training Corps (ROTC) : Each branch of the military sponsors an ROTC program. In exchange for a certain number of years on active duty, students can have their college education paid for up to a certain amount by the armed forces.

Rolling Admissions: There is no deadline for filing a college application. Generally, the earlier a student applies the earlier they will receive a decision. If admitted, a student is not required to respond, in most cases, until May 1. Out-of-state residents applying to state universities should apply as early as possible.

SAT: Scholastic Assessment Test. An exam used to measure a student's ability in math, verbal comprehension, problem-solving, and writing. SATs are usually taken during the junior and senior years in high school.

SAT Subject Test: Exams offered in five general areas of study: English, mathematics, science, history and social studies, and languages. Some colleges require students to take one or more Subject Tests when they apply for admission.

Scholarships: Funds used to pay for higher education that do not have to be repaid. Scholarships are often awarded on criteria such as academics, achievements, hobbies, talents, group affiliations, or career aspirations. They usually do not provide funds for living expenses.

Stafford Loans: Loans, both subsidized (need-based) and unsubsidized (non-need-based), guaranteed by the federal government and available to students to fund education.

Transcript: A list of the courses that a student has taken at a school with the grades earned for each one. Transcripts are usually required as part of the college application process.

Transfer Student: A student who transfers from one college or university to another. Credits applied toward the transfer will be evaluated by the receiving school to determine the number it will accept. Each school sets different policies for transfers, so anyone considering this option should seek guidance.

Tuition: The amount of money colleges charge for classroom and other instruction and use of some facilities such as libraries.

Undergraduate Student: A person seeking a degree at a college or university who has not earned a first bachelor's degree.

Unsubsidized Loan: A non-need-based loan such as an unsubsidized Federal Stafford loan or a Federal PLUS loan. The borrower is responsible for paying the interest on an unsubsidized loan during in-school, grace, and deferment periods.

U.S. Department of Education (ED, DOE, USED, DE): The government agency that administers federal student financial aid programs, including the Federal Pell Grant, the Federal Work-Study Program, the Federal Perkins Loan, the FFELP, and the FDLP.

Verification: A school's procedure for checking the accuracy of information reported by the student on the FAFSA. Verification may include requesting a copy of tax returns from the student and, if applicable, the student's parents.

Verification Worksheet: A form sent by the college to students who are selected for verification by the Department of Education's Central Processing System (CPS).

Work-Study: A program, awarded by the college, through which students work part time to help fund their education.

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