A

The department responsible for providing information about the school to prospective students, reviewing applications for acceptance to the university, and determining a student’s eligibility for admission.

A loan from a commercial, state-affiliated or institutional lender used to pay for up to the annual cost of education, less any financial aid received. Private loans usually require the applicant to be creditworthy or have a co-signer and have varying interest rates, fees and repayment options. Repayment of interest (and often principal) generally begins immediately, with some lenders offering deferment options for in-school periods.

The official document sent by the Financial Aid Office which lists all awards—grants, loans, and scholarships—which are offered to the student for an academic year. It should also list the terms and conditions required for each program. It may also list the cost of attendance.

B

The department responsible for the administration of the student’s charges and payments.

C

The department responsible for the administration of the student’s charges and payments.

Alternative application for financial assistance used by some schools to determine eligibility for school funds. May not be used in place of the FAFSA, but may be required in addition. This form is not required by Adelphi.

Those costs directly or indirectly associated with the pursuit of higher education. It may include tuition, fees, room and board which are billed by the University, but will also include allowances for books, supplies, personal expenses, transportation, loan origination fees, and at some schools may include computers, dependent child care costs, etc., which are not billed by the school.

The unit of measurement of the value of course work.

D

That part of the federal government charged with the administration of all federally funded sources of financial assistance and the determination of regulatory compliance by all schools which offer those funds.

Expenses the student/family pays to the college.

E

A form of financial aid that must be repaid with interest. Educational loans have varying interest rates and repayment terms. Students and/or parents are required to sign a promissory note when accepting an educational loan.

Level of the degree-granting program in which a student is enrolled. Basic levels of enrollment include: undergraduate (students seeking an associate’s degree, a certificate, or a baccalaureate degree); post-baccalaureate (such as teacher certification); graduate (students working on a master’s degree or professional degree); and post-graduate (such as students enrolled in a doctoral program). The amounts and types of financial aid a student is eligible for is determined, in part, by their enrollment level.

Full-time, three-quarter-time, half-time, or less-than-half-time, depending on a student’s credit-hour work load per academic term, at an institution using semesters, trimesters, quarters, or other academic terms and measuring progress by credit hours.  All levels are relative to full-time. At an institution using clock hours, 24 hours a week is full-time and 12 hours a week is half-time.

The amount calculated by the federal government using the Federal Methodology as the minimum amount the student and/or family is expected to pay toward the cost of education each year.

Application required to determine eligibility for the New York State Tuition Assistance Program (TAP) grant.

F

Free Application for Federal Student Aid. This is the form that must be filed annually by all college students seeking financial assistance. It is used to calculate the EFC (see above) and determine eligibility for federally based sources of funding.

Many schools award institutional scholarships and grants based upon a more comprehensive calculation of family financial circumstances using information provided on the CSS PROFILE or the College’s own financial aid form. This can result in a higher (or lower) financial responsibility for the student (and his/her family) than the FAFSA might indicate with its Expected Family Contribution (EFC) estimate.

Loan funds provided to graduate students by the U.S. Department of Education, through the school. This federal loan program allows graduate students with no adverse credit history to apply for up to their Cost of Attendance each year, less any financial aid. To be eligible, the student must be enrolled at least half-time in an eligible program of study and first borrow the maximum allowable through the Federal Direct Student Loan program. Repayment of principal and interest begins 30 to 60 days after the loan is fully disbursed with deferment and forbearance options available.

A federal loan program that allows parents who have no adverse credit history to apply for up to the Cost of Attendance each year, less any financial aid. PLUS loans must be repaid with interest.

Federally based grant with an annual maximum of $6,095. Eligibility based on the EFC.

Federally based loan program administered by the school within federal guidelines. Funds are awarded at the discretion of the school within federal guidelines. Payment of principle and interest (5%) begins 9 months after separation. The Federal Perkins Loan program was discontinued by the federal government after the 2017-2018 academic year.

Federally funded program administered by the school within federal guidelines whereby the student seeks employment either in or through the school and is paid for hours worked.

Family Education Rights and Privacy Act (1974 as amended). The laws which protect a student’s right to privacy in all aspects of their education and govern the manner in which schools disseminate information to students and their families.

The official document sent by the Financial Aid Office which lists all awards—grants, loans, and scholarships—which are offered to the student for an academic year. It should also list the terms and conditions required for each program. It may also list the cost of attendance.

Federally based grant. Eligibility is tied to the Pell Grant. Funds are awarded at the discretion of the school within federal guidelines.

Registration for a minimum of 12 credits per semester (Department of Education definition which is used to determine eligibility for financial aid).

G

Funds awarded to the student that do not have to be repaid, unless the student fails to meet certain terms, such as a service requirement, specified as a condition of the grant. Gift aid includes awards with titles such as grants, scholarships, remissions, waivers, etc. Gift aid can be awarded based upon many factors, including (but not limited to) financial need, academic excellence, athletic, musical, and theatrical talent, affiliation with various groups, or career aspirations.

The period between separation (graduation or enrollment for less than 6 credits per semester) and the commencement of repayment of loan obligations.

Loan funds provided to graduate students by the U.S. Department of Education, through the school. This federal loan program allows graduate students with no adverse credit history to apply for up to their Cost of Attendance each year, less any financial aid. To be eligible, the student must be enrolled at least half-time in an eligible program of study and first borrow the maximum allowable through the Federal Direct Student Loan program. Repayment of principal and interest begins 30 to 60 days after the loan is fully disbursed with deferment and forbearance options available.

Gift aid offered by schools and other groups. May be based on need. No repayment is required for these awards.

H

Registration for 6 to 8 credits per semester.

I

Expenses incurred as a result of attendance that the student/family may pay to a third party (merchant, landlord, etc.) other than the college.

L

Registration for fewer than six credits per semester.

M

Financial aid given to students who have outstanding abilities, talents, and/or achievements. Financial situation is not considered.

N

The remainder calculated by taking the ‘budget’ and subtracting the ‘EFC‘ and the ‘financial aid’ (budget – EFC – financial aid = need).

Financial aid awarded to students whose families do not have sufficient financial resources to pay for college. Academic performance, talent, and abilities are not considered. These awards may or may not meet all of a student’s needs.

Amount of direct and indirect costs remaining after all gift aid (scholarship and grant) is subtracted.

O

Difference between the cost of attendance and all gift aid. Out-of-pocket cost can be covered through a variety of sources, including: savings, income and educational loans.

P

The process whereby a financial aid officer determines the financial aid awards and amounts for which the student is eligible each year. The amounts are subject to change from year to year, and within any given year if factors affecting eligibility change.

Federally based grant with an annual maximum of $6,095. Eligibility based on the EFC.

Federally based loan program administered by the school within federal guidelines. Funds are awarded at the discretion of the school within federal guidelines. Payment of principle and interest (5%) begins 9 months after separation. The Federal Perkins Loan program was discontinued by the federal government after the 2017-2018 academic year.

A loan from a commercial, state-affiliated or institutional lender used to pay for up to the annual cost of education, less any financial aid received. Private loans usually require the applicant to be creditworthy or have a co-signer and have varying interest rates, fees and repayment options. Repayment of interest (and often principal) generally begins immediately, with some lenders offering deferment options for in-school periods.

R

The department responsible for the administration of course registration, room assignments, determining eligibility for graduation, and the production of transcripts and diplomas.

S

Gift aid offered by federal and state governments, schools and other groups. No repayment is required for these awards. They are usually based on academic performance, talent, athletics, school, or community involvement.

Financial aid in the form of loans or student employment. Loans are used to help pay the remaining net costs after gift aid is deducted. Student employment earnings (including Work-Study awards) are generally not deducted from billed costs but can be used to help cover direct or indirect costs and are paid in the form of wages to the student.

Reduction of enrollment to less than 6 credits per semester, leave of absence, graduation, or failure to register in consecutive terms. This may initiate repayment of loans.

Summary of information submitted on the FAFSA which is available to the student for his or her review. It should be checked each year for accuracy and completeness.

Funds awarded to the student that must eventually be paid back to the lender by the student.

Federally based loan program with eligibility determined based on cost of attendance and need. Maximum annual eligibility is set by the federal government based on grade level. Maximum cumulative eligibility is also set by the federal government. Interest rate is fixed and set each year. Interest is paid by the federal government while the student is in attendance taking at least 6 credits. Repayment begins 6 months after separation.

Federally based grant. Eligibility is tied to the Pell Grant. Funds are awarded at the discretion of the school within federal guidelines.

T

Registration for 9 to 11 credits per semester.

That part of the Higher Education Act which regulates the administration of awarding and refunding the following sources of financial aid: Pell Grants, SEOG Grants, Subsidized Federal Direct Loans, Unsubsidized Federal Direct Loans, Perkins Loans, and Federal Work Study.

U

Federally based loan program with eligibility NOT tied to need. Maximum annual eligibility is set by the federal government based on grade level. Maximum cumulative eligibility is also set by the federal government. Interest rate is variable and set each year.  Interest payments are the responsibility of the students as soon as the funds are disbursed, but may be deferred until separation. Repayment begins six months after separation.

V

The process by which randomly selected FAFSA records are checked for accuracy by the financial aid office.

The information contained on this site is subject to change without notice.

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