A federal loan program available to parents of dependent undergraduate students. The amount that can be borrowed is limited to the difference between the Cost of Attendance and other financial aid that has been awarded.

General Terms

An accredited post-secondary school has been reviewed by one of a number of agencies and has been determined to provide a quality education. The U.S. Department of Education recognizes several accrediting agencies, and schools not accredited by one of these agencies cannot offer federal financial aid.

A letter from a school listing what type and amount of financial aid you are being offered. Information about grants, loans, scholarships, and work-study awards, as well as school costs and how much your family is expected to pay, are typically included in the award letter.

A school’s estimate of how much it will cost to attend for one academic year. Cost of Attendance typically includes tuition, room and board, books and supplies, personal costs, and transportation.

If you are supported at least 50 percent by your parent(s), you are considered a dependent student. If you are a dependent student, your parents’ income and assets will be included as resources in financial aid calculations.

The EFC is the amount of money you and your family can contribute to paying for your education. It is determined by analysis of the FAFSA and/or an institutional financial aid application.

This form must be filled out if you wish to apply for financial aid from the U.S. federal government, including both federal loans and grants. All colleges require this form. You can get a copy of the FAFSA from your guidance office and mail it, or fill it out online

The combination of grants, loans, and work-study that a college offers you to help pay for college costs.

The difference between the Cost of Attendance and the Expected Family Contribution (EFC).