Terminology

The College Process - Terms Used

ASVAB - the Armed Services Vocational Aptitude Battery is a multi-aptitude test that helps you identify your different abilities and will enable you to match your interests, abilities and personal preferences with civilian and military occupations.
Award Letter: An official document issued by a financial aid office listing all the financial aid awarded to the student. The award letter will include information about the cost of attendance and terms and conditions for the financial aid.
Campus-Based Aid: Financial aid programs administered by the university. The government provides the university with a fixed annual allocation, which is awarded by the financial aid administrator to deserving students. The Perkins Loan Program, Supplemental Education Opportunity Grant (SEOG), and Federal Work-Study are examples of campus-based aid.
Early Decision: An admission program with earlier deadlines and earlier notification dates than the regular admissions process. Students who apply through an early decision program commit to attending the school if admitted. (Thus, a student can apply early decision to only one school).
EFC (Expected Family Contribution): 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 family members in college.
Financial Aid Package: A combination of financial aid (scholarships, grants, loans, and/or work-study) awarded by the financial aid office of a college or university.
FAT (Financial Aid Transcript): A record of all financial aid received by students at each school attended.
FDSLP: The Federal Direct Student Loan Program: Stafford and PLUS loans are available directly from the government rather than through commercial lenders. Selected colleges and universities participate in this program.
FFELP: The Federal Family Education Loan Program: Stafford and PLUS loans are financed by private lenders and guaranteed by the government.
Federal Methodology: The need analysis formula mandated by law to determine a student's eligibility for student aid programs.
FAFSA (Free Application for Federal Student Aid): The form that must be completed by students and parents applying for Federal Title IV student aid.
PC (Parent's Contribution): Amount parents can be expected to contribute each year to the cost of their student's education as determined by the Federal Methodology.
PLUS (Parent Loans for Undergraduate Students): Federally insured loans for parents of dependent students.
Pell Grant Program: The largest grant program. Eligibility and award amounts are determined by the college based on established guidelines.
Perkins Loans: Federally insured loans funded by the government and awarded by the school. The loans feature a low interest rate and are repayable over an extended period.
Post-Secondary: 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 & technical schools.
Profile
- CSS/Financial Aid PROFILETM: A customized financial aid application form required by certain colleges and scholarship programs, which collects additional financial information to determine eligibility for institutional aid.
- School Profile: a brochure describing EHS that is sent with each college application
SAR (Student Aid Report): An output document sent to a student by the application processor. The SAR contains financial and other information reported by the student on the FAFSA. The student's Expected Family Contribution (EFC) is printed on the front of the SAR and is the figure used by colleges to determine eligibility for aid.
SEOG: Supplemental Educational Opportunity Grant Program: grant funds made available through some schools to a limited number of undergraduate students with financial need.
Statement of Educational Purpose: A legal document in which the student agrees to use the financial aid for educational expenses only.
Stafford Loans:
- Subsidized - Need-based loans
- Unsubsidized - Non-need-based loans
Verification Worksheet: A form sent by the college to students who are selected for verification by the Department of Education's Central Processing System.
Work Study: A program, awarded by the college, through which students work part-time to help fund their education.

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Terminology

The College Process - Terms Used

ASVAB - the Armed Services Vocational Aptitude Battery is a multi-aptitude test that helps you identify your different abilities and will enable you to match your interests, abilities and personal preferences with civilian and military occupations.

Award Letter: An official document issued by a financial aid office listing all the financial aid awarded to the student. The award letter will include information about the cost of attendance and terms and conditions for the financial aid.

Campus-Based Aid: Financial aid programs administered by the university. The government provides the university with a fixed annual allocation, which is awarded by the financial aid administrator to deserving students. The Perkins Loan Program, Supplemental Education Opportunity Grant (SEOG), and Federal Work-Study are examples of campus-based aid.

Early Decision: An admission program with earlier deadlines and earlier notification dates than the regular admissions process. Students who apply through an early decision program commit to attending the school if admitted. (Thus, a student can apply early decision to only one school).

EFC (Expected Family Contribution): 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 family members in college.

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

FAT (Financial Aid Transcript): A record of all financial aid received by students at each school attended.

FDSLP: The Federal Direct Student Loan Program: Stafford and PLUS loans are available directly from the government rather than through commercial lenders. Selected colleges and universities participate in this program.

FFELP: The Federal Family Education Loan Program: Stafford and PLUS loans are financed by private lenders and guaranteed by the government.

Federal Methodology: The need analysis formula mandated by law to determine a student's eligibility for student aid programs.

FAFSA (Free Application for Federal Student Aid): The form that must be completed by students and parents applying for Federal Title IV student aid.

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

PLUS (Parent Loans for Undergraduate Students): Federally insured loans for parents of dependent students.

Pell Grant Program: The largest grant program. Eligibility and award amounts are determined by the college based on established guidelines.

Perkins Loans: Federally insured loans funded by the government and awarded by the school. The loans feature a low interest rate and are repayable over an extended period.

Post-Secondary: 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 & technical schools.

Profile

CSS/Financial Aid PROFILETM: A customized financial aid application form required by certain colleges and scholarship programs, which collects additional financial information to determine eligibility for institutional aid.

School Profile: a brochure describing EHS that is sent with each college application

SAR (Student Aid Report): An output document sent to a student by the application processor. The SAR contains financial and other information reported by the student on the FAFSA. The student's Expected Family Contribution (EFC) is printed on the front of the SAR and is the figure used by colleges to determine eligibility for aid.

SEOG: Supplemental Educational Opportunity Grant Program: grant funds made available through some schools to a limited number of undergraduate students with financial need.

Statement of Educational Purpose: A legal document in which the student agrees to use the financial aid for educational expenses only.

Stafford Loans:

Subsidized - Need-based loans

Unsubsidized - Non-need-based loans

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

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

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