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Definitions (46)
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accrual date
The date on which interest charges on an educational loan begin to accumulate or accrue.
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alternative student loans
Alternative or Private Student Loans offer loan assistance that is in addition to the federal loans a student may receive. These funds are generally offered through banks and credit unions and allow the student to borrow up to the cost of education less any other financial assistance they are receiving. Most lenders require students to apply with a [..]
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award letter
The official document issued by the Financial Aid Office that describes all of the financial aid awarded for the academic year, terms and conditions for the financial aid, and information about the cost of attendance.
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college board
A private nonprofit organization which offers a variety of resources, tools, and services to students, parents, secondary schools, colleges and universities in an effort to expand access to higher education. The College Board membership includes over 6,000 colleges, universities, and other educational associations. More detailed information is avai [..]
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comprehensive fee
The comprehensive fee includes tuition, fees, room, and board.
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cosigner
This person assumes responsibility for the loan if the borrower should fail to repay it.
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cost of attendance
The total amount needed to attend school, including billable expenses such as tuition and fees, room and board, as well as allowances for books and supplies, transportation, and personal and miscellaneous expenses a student may incur while participating in campus activities or academic activities.
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css profile
This form must be completed by all students who wish to be considered for Institutional scholarship assistance at Union. This application is made available through the College Board and can be accessed online.
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custodial parent
If a student's biological parents are divorced or separated, the custodial parent is the one with whom the student lived with the most during the previous 12 months.
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direct loan program
Student Loans provided by the U.S. Department of Education available to all U.S. citizens and permanent residents who file the Free Application for Federal Student Aid (FAFSA). Direct Loans include the following types of federal loans: Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct Parent Loans (PLUS). The Direct Loans carry a fixed [..]
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