Scholarships - an amount of money given by a school, college, university, or other organization to pay for the studies of a person with great ability but little money.

Refunds - pay back (money), typically to a customer who is not satisfied with goods or services bought.

Verification Process - 博彩平台推荐 students should prepare for the FAFSA verification process. About 30 percent of students are selected each year to complete this process, which confirms that the data reported on your FAFSA is complete and accurate. 

FAFSA - The FAFSA (Free Application for Federal Student Aid) is the official form that families must use to apply for federal financial aid to pay for college. It is also used by many states and individual colleges and universities in making their financial aid decisions.

Entrance Counseling - Entrance counseling explains the obligations you agree to meet as a condition of borrowing a Direct Loan. Topics include: Understand Your Loans, Manage Your Spending, Plan to Repay, Avoid Default and Make Finances a Priority.

Exit Counseling - Exit counseling provides important information that you need as you prepare to repay your federal student loan(s). Topics include: Understand Your Loans, Plan to Repay, Avoid Default, and Make Finances a Priority.

Federal Pell Grant - The Pell Grant is the largest federal grant program offered to undergraduates. It is designed to assist students from low-income households. To qualify for a Pell Grant, a student must demonstrate financial need by completing and submitting the FAFSA® form.

Federal Student Aid - Federal student aid is aid from the government in the form of grants, loans, and/or work-study to assist students with college or career school. Students have to complete the FAFSA® form to apply for this aid.

Federal Work Study - Federal Work-Study provides part-time jobs for undergraduate and graduate students with financial need. The program encourages community service work and work related to your field of study. To receive funds, you will need to be awarded work study and secure a job.

Independent Student - An independent student is at least 24 years old, married, a graduate/ professional student, a veteran, a member of the armed forces, an orphan, a ward of the court, someone with legal dependents (not a spouse), an emancipated minor, or someone who is or at risk of being homeless.

Legal Guardianship - Legal guardianship is a designation by a court that authorizes someone to care for an individual in place or absence of parents. Having a legal guardian qualifies you as an independent student, such that you do not have to report your parents’ income on the FAFSA® form.

Master Promissory Note (MPN) - An MPN is a legal document that contains the Borrower’s Rights and Responsibilities and Terms and Conditions for repayment. Direct PLUS and Direct Subsidized / Unsubsidized loans have different MPNs.

PLUS Credit Counseling - PLUS credit counseling helps graduate/professional students and parents of eligible dependent undergraduate students understand the obligations associated with borrowing a PLUS loan and assists them in making careful decisions about taking on student loan debt.

Principal - Principal refers to the sum of money lent, on which interest is paid.

Direct Costs - Expenses the student/family pays directly to the university and seen on the student's bill. Example: Tuition and Fees.

Indirect Costs - Expenses incurred as a result of attendance at the university that are not paid directly to the university. Examples: personal expenses, books, transportation)

Loan Origination Fee- A fee charged by the federal government and deducted from loan proceeds before disbursement to partially offset administrative costs incurred by the government. 

Loan Principal - The amount borrowed. Interest is charged on this amount, and guaranty and origination fees will be deducted prior to disbursement.

Satisfactory Academic Progress - Criterion that is checked and monitored to ensure students are progressing toward completion of their programs in order to qualify for federal, state, and institutional financial aid.