How do you find the right colleges for you? College Planning Co. can guide you through the college search process. Learn how to find colleges that are a good fit for you, develop your college search strategy, and explore colleges with our college match search engine. College Planning Co. is a comprehensive look at a family's resources and how it affects their ability to pay for qualified education expenses.
How do you find the right colleges for you?  College Planning  Co. can guide you through the college search process.Learn how to find colleges that are a good fit for you, develop your college search strategy, and explore colleges with our college match search engine. College Planning Co. is a comprehensive look at a family's resources and how it affects their ability to pay for qualified education expenses.

Glossary of College Planning Co.

Glossary of College Planning Co.
Glossary_College_Planning.pdf
Adobe Acrobat document [123.3 KB]

A-C

Academic Year

A period of at least 30 weeks of instructional time during which a full-time student is expected to complete at least 24 semester or trimester hours, or at least 36 quarter hours, at an institution that measures program length in credit hours; or at least 900 clock hours at an institution that measures program length in clock hours.

Accrual Date

The day interest charges on an educational loan begins to accrue.

Award Letter

The official document, issued by the financial aid office, which lists all the financial aid awarded to the student. While award letters vary among institutions, the letter generally lists the expected family contribution, cost of attendance and all the terms of the aid awarded.

Citizen/Eligible Non Citizen

You must be one of the following to receive federal student aid:

  • U.S. Citizen
  • U.S. national (includes natives of American Samoa or Swain's Island)
  • U.S. permanent resident with an I-151, I-551, or I-551C (Alien Registration Receipt Card)
  • If you're not in one of these categories, you must have an Arrival Departure Record (I-94) from the U.S. Immigration and Naturalization Service (INS) showing one of the following designations:
    • Refugee
    • Asylum Granted
    • Indefinite Parole and/or Humanitarian Parole
    • Cuban Haitian Entrant, Status Pending
    • Conditional Entrant (valid only if issued before April 1, 1980)

Permanent residents of the Freely Associated States may be eligible for federal student aid. Citizens of the Freely Associated States are eligible for Pell Grants, SEOG, or Work Study only. A student with a nonimmigrant visa isn't eligible for federal student aid or need based aid from college unless he or she has a Form I-94 with one of the endorsements listed earlier. Nonimmigrant visas include the F-1, F-2 or M-1 Student Visa, B-1 or B-2 Visitor Visa, J-1 or J-2 Exchange Visitors Visa, H series or L series Visa (which allow temporary employment in the U.S.), or a G series Visa (pertaining to international organizations). Also, someone who has only a "Notice of Approval to apply of Permanent Residence (I717 or I464)" cannot receive federal aid or need-based aid from college.

Capitalization

The process of adding unpaid interest to the principal balance of an educational loan, thereby increasing the total amount to be repaid.

College Scholarship Service Profile (CSS Profile)

This application must be completed by all students who wish to be considered for institutional financial aid at some college. Apply online at the CSS Profile website.

Consolidation

A loan program that allows a borrower to combine various educational loans into one new loan. By extending the repayment period (up to 30 years depending on the loan amount) and allowing a single monthly payment, consolidation can make loan repayment easier for some borrowers.

Cost of Attendance

The student's cost of attendance includes tuition, fees, and standard allocation designed to cover reasonable living expenses while attending school. The cost of attendance is determined by the school using guidelines established by federal regulations. (also known as Cost of Education or Student Budget)

 

                                                                                                    NEXT

 

 

 

Print Print | Sitemap
College Planning Co.
Copyright © 2008 College Planning Co. All rights reserved