Know your College Vocab!

ACT

The difference between the cost of attending a college and your expected family contribution.

A brief composition on a single subject, required by many colleges as part of the application process for admission.

Free Application for Federal Student Aid; determines how much financial aid a student may receive.

States the type and amount of financial aid the school is willing to provide if you accept admission and register 

Parent loan for undergraduate students.

Student's concentrated field of study, usually chosen at the end of the sophomore year.

Student's secondary field of study, requires fewer credits than a major.

Students make a commitment to enroll at the college if admitted and offered financial aid

College or university funded by private sources. The cost is usually higher.

Can be earned at most community colleges.

Nonbinding — students receive an early response to their application but do not have to commit until May 1.

Office that decides how much money a student will receive in grants and loans

Average of grade points earned from grades earned in high school classes.

A college or university that receives public funding.

The cost of classes, labs, and miscellaneous fees (health services fee, student activities fee)

3-hour exam measuring verbal, math, grammar and ability to write a brief essay.

A specialized career-focused program, typically 5 or 6 courses, taken over 3 to 18 months.

A post-secondary school that focuses on broad skills in thinking and writing rather than pre-professional skills

Schools use these examinations to place students in courses—often required for math and foreign language.

Students who are not accepted or rejected by a college and who may be offered admission if space becomes available

A form of gift aid based upon your GPA, academic excellence and extracurricular activities.

A form of financial aid provided by the Federal government to students whose FAFSA indicates high $$ need (free $).

Room & Board

A standardized undergraduate application used by more than 400 colleges for admission.

These are based on financial need, like loans, but do not have to be paid back

Need-based with interest paid by the government and payments deferred as long as the student is enrolled in college.

Can be earned at four-year college/university.

A school that includes graduate students (Master's degrees).

Prerequisite

Permanent residence is a different state than that of college or university which student hopes to attend. More $$

No interest accrues while in college. Interest rate is lower, repayment grace period is longer than other loans.

Work part time during the school year as part of the financial aid package, usually on campus.

Type of financial aid that is available to students, based on need, but must be paid back after graduation.

Total cost including tuition, room & board, books, transportation, fees, and personal expenses.

They do not have to be paid back. Awarded based on Academics, Service, Athletics, etc.

Often referred to as a "four year"institution, which grants the bachelor's degree in Liberal Arts or Science or both.