FAFSA on the Web:
The electronic Free Application for Federal Student Aid (FAFSA) as developed by the U.S. Department of Education, which helps students apply for financial aid over the Internet.

Federal Methodology (FM):
The need analysis formula mandated by federal law and used to determine a family's Expected Family Contribution (EFC).

Federal Pell Grant:
This grant, which requires no repayment, is an entitlement grant from the U.S. Department of Education for undergraduate students demonstrating exceptional financial need.

Federal Processor:
The agency that is appointed by the federal government to process the FAFSA or Renewal FAFSA and generate Student Aid Reports (SAR) to students is referred to as the federal processor.

Federal SEOG:
The Federal Supplemental Educational Opportunity Grant Program (SEOG) is a federal grant for undergraduate students demonstrating exceptional financial need, who are also recipients of Federal Pell Grants.

Federal Work Study (FWS):
Based on financial need, this financial aid employment program allows a student to work on campus and earn money to pay for college. Based on part-time employment, students are allowed to work up to 15 hours per week, and are paid every two weeks.

Fellowships:
Available to graduate students, university-funded fellowships generally provide grants for tuition and require service to a specific department on campus. Other fellowships include tuition waivers or payments to universities in lieu of tuition. Fellowships are a form of gift aid and do not have to be repaid.

Financial Aid:
All forms of financial assistance available to college students to help meet their costs of attendance. Financial aid includes scholarships, grants, fellowships, assistantships, tuition waivers, employment opportunities and loans.

Financial Aid Administrator (FAA):
A college or university employee who is involved in the administration of financial aid is generally the Financial Aid Administrator, although some schools refer to them as "Financial Aid Advisors" or "Financial Aid Counselors".

Financial Aid Appeal:
This is a petition made by a student and/or family to adjust income or asset information on the FAFSA or Renewal FAFSA. It may also include requests to be considered as an independent student, to have a cost of education budget adjusted, or to exclude income from an absent parent. Approval of the financial aid appeal is based on the professional judgment of the financial aid counselor and the Dean.

Financial Aid Award Letter:
This letter is issued by the Office of Student Financial Services and contains an offer of financial assistance to a student attending college. It contains an estimate of the cost of education for the student, and the financial aid available to assist the student.

Financial Aid Package:
The combination of all the financial aid programs (scholarships, grants, loans, and/or work study) made available to a student from the state and federal government and from a university.

Financial Aid Transcript:
A record of all federal aid received by students at each school attended.

Financial Need:
The difference between the Estimated Cost of Attendance at a college and the Expected Family Contribution is the financial need.

Free Application for Federal Student Aid (FAFSA):
This is the application that must be completed by students and parents applying for Federal Title IV student financial aid. This is the need-analysis form utilized to apply for federal student aid.

Full-time Student:
An enrolled student who has registered for 12 credits or more in a semester is generally considered full-time for financial aid purposes.

(Back to top)