www1.lehigh.edu

Website:https://www1.lehigh.edu
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Definitions (35)

1

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100% demonstrated need


The gap between the cost of attendance and the calculated expected family contribution.  The calculated expected family contribution is calculated by the Lehigh Office of Financial Aid using the CSS P [..]
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cost of attendance


This is the combination of direct costs of attendance such as tuition and fees, room and board, and books and supplies, as well as indirect costs such as transportation, personal expenses, loan-relate [..]
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css profile


The College Scholarship Service (CSS) Financial Aid PROFILE application is the first step you need to take to apply for aid at Lehigh. You can register for this service and complete the form electroni [..]
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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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default fee


A default fee is used by the guarantor to maintain reserve funds to reimburse lenders if a student/parent borrower fails to repay a loan (defaults.) Therefore, guarantors may charge a 1% fee.
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deferment


The temporary postponement of loan payments for a limited period of time. Deferments, allowed for specific borrower activities, extend the loan repayment period by the length of the deferment period.
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direct lending


The U.S. Department of Education (the Department) is the lender rather than a bank or other financial institution. Direct Loans are low-interest loans for students and parents to help pay for the cost [..]
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disbursement


The release of financial aid funds to individual student accounts. Funds are disbursed when the student's financial aid file is complete and registration has been verified.
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expected family contribution


This is the amount that a family is expected to contribute toward the student’s cost of attendance and includes both the parents' contribution and the student’s contribution. The CSS/Profile and [..]
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fafsa


The Free Application for Federal Student Aid (FAFSA) is a required application for all students. To complete this form, go online to www.fafsa.ed.gov.
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