An estimate of the portion of your educational expenses that the federal government believes your parents can afford. It is based on their income, the number of parents earning income, assets, family size, the number of family members currently attending a university and other relevant factors. Students who qualify as independent are not expected t [..]

Aid or benefits available because a student is in school and is counted after need is determined. Outside scholarships, prepaid tuition plans and VA educational benefits are examples of outside resources.

A student who has not met the legal residency requirements for the state, and is often charged a higher tuition rate at public colleges and universities in the state.

A scholarship that is awarded for more than one year. Usually the student must maintain certain academic standards to be eligible for subsequent years of the award. Some renewable scholarships will require the student to reapply for the scholarship each year; others will just require a report on the student's progress to a degree.

The Federal Income Tax Return. Every person who has received income during the previous year must file a form 1040 with the IRS by April 15.

Form used by business to report income paid to a non-employee. Banks use this form to report interest income.

A popular type of retirement fund. It is legal to borrow money from your 401(k) to help pay for your children's education.

The period during which school is in session, consisting of at least 30 weeks of instructional time. The school year typically runs from the beginning of September through the end of May at most colleges and universities.

Access to higher education focuses on providing students with the opportunity to pursue a college education. Choice focuses on allowing students the flexibility to choose among several options. Generally, need-based aid promotes access while merit-based aid promotes choice. Students with no debt are more likely to pursue advanced education (4 year [..]

To accumulate.