time in which a full-time student should complete two (2) semesters or three quarters at a college, university, technical or vocational school. Or must be at least 36-quarter hours if a program is measured in credit hours. 

the written acknowledgment by the student of receipt of an award letter. The form usually provides for acceptance or rejection of offered aid. Frequently, acceptance and award letters are combined into a single document. 

cash on hand in checking and savings accounts, trust, stocks, bonds or other securities, real estate, income-producing property, business equipment and business inventory. 

a means of notifying successful financial aid applicants of the assistance being offered. The award letter usually provides information on the types and amounts of aid offered, as well as specific program information, student responsibilities, and the conditions that govern the award. It generally provides students with the opportunity to accept or [..]

an alternate term for the cost of attendance. 

in addition to tuition, the cost of attendance or education includes room and board (on or off campus), books, supplies, fees, transportation, and personal expenses. 

an award or gift assistance that is specifically designated for a recipient in a particular academic department within the institution. 

a student who does not qualify as an independent student and whose parental income and asset information is used in calculating expected Family Contribution. 

the number of credit hours being attempted by a student. Normally, students must be half-time or more to apply for scholarships. Individual programs will list this criteria. 

the amount a student and his/her family are expected to pay toward the cost of attending college. This amount is determined by a formula established by Congress. The formula includes factors such as taxable and non-taxable income, assets, family size, number of children in college, etc.