Awards to students who demonstrate they and their family cannot pay for all of the cost of post-secondary education on their own. Academic merit may or may not be considered.

A period of time schools use to measure a quantity of study. For example, a school’s academic year may consist of a fall and spring semester during which a full-time undergraduate student must complet [..]

The school must have accreditation from an accrediting body recognized by the U.S. Department of Education to be eligible to participate in the administration of federal student aid programs. Accredit [..]

The written acknowledgement by the student of receipt of an award letter. The form usually provides for acceptance or rejection of offered aid.

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 pro [..]

Costs associated with attending college. Can include: tuition and fees, room and board, allowances for books, supplies, transportation, personal expenses, child care and costs related to a disability.

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 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 t [..]

Long-term loan made available to parents of dependent students. The federal government provides the loan capital; selected educational institutions serve as the administrators. Interest rates are link [..]

Long-term, low interest student loan administered by selected educational institutions. The federal government provides the loan capital; the school serves as the administrator. Variable interest rate [..]