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Definitions (63)
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overaward
a situation in which the student's financial aid exceeds the calculated financial need. Federal student aid programs do not allow overawards.
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academic year
the measure of the academic work to be accomplished by a student each year as defined by the University, which has two semesters that contain at least 30 weeks of instructional time in which a full-ti [..]
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award year
the period of time between fall term and the end of the following summer session.
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accrued interest
interest that accumulates on the unpaid balance of your loan.
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back to top borrower
person responsible for repaying a loan who has agreed to the terms and signed a promissory note.
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campus-based programs
collective term that refers to the Federal Work-Study program and Federal Perkins Loan.
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capitalizing interest
adding unpaid, accumulated interest to the loan principal, increasing the total loan cost.
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central processing system
the system that receives your need analysis data. The CPS calculates your official expected family contribution (EFC).
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cost of attendance
your anticipated expense to attend college. Includes tuition, fees, housing, food, transportation, books and supplies, personal expenses, and other costs, depending on individual circumstances.
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back to top default
failure to repay a loan according to the terms of the promissory note. For a loan repayable in monthly installments, a loan is in default after 270 days of no payment.
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