Glossary

Aid package - A combination of aid (possibly including a scholarship, grant, loan, and work-study) determined by a college financial aid office.

Candidate's reply date - A policy among subscribing institutions that permits students to wait until May 1 to choose, without penalty, among offers of admission/financial aid.

Credit hour - A unit of academic credit that often represents one hour of class time per week for a period of study (semester, quarter, etc.).

Expected Family Contribution (EFC) - An amount you and your family are expected to contribute toward your education. It is used in determining your eligibility for federal student aid.

Federal Pell Grant - Finanical assistance awarded by the federal government on the basis of need and designed to provide the floor of an aid package for postsecondary education.

Federal Subsidized Stafford Loan Program - Provides low-interest federal loans to eligible students through banks, lending institutions, and participating Direct Loan schools. The interest is paid by the federal government for qualifying students while they are enrolled at least half-time.

Federal Unsubsicized Stafford Loan Program - Provides low-interest federal loans which are not based on need, and the student must pay the interest while in school.

Major - The subject of study in which the student chooses to specialize in.

Rolling admissions - The application process in which an institution reviews applications as they are completed and renders admission decisions to students throughout the admission cycle.

Student Aid Report - The information you will receive approximately 2 - 4 weeks after your FAFSA has been processed. It will report the information form your application and, if there are no questions or problems with your application, your SAR will report your EFC.

Transcript - The official record of high school or college courses and grades, generally required as part of the college application.

Wait list - By placing a student on the wait list, an institution does not offer or deny admission, but extends the possibility in the future, before the admission cycle is concluded.