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Glossary of Financial Aid Terms

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Satisfactory Academic Progress:
An eligibility requirement to continue to receive federal student aid that is based on academic standards. A student must make progress toward his/her degree objective, and achieve passing grades. Detailed information on these standards appears in the University Bulletin, and Internet sites of most colleges.

Scholarships:
Generally based on academic achievement, this form of financial aid also helps meet the student's cost of education. Repayment is not required if academic obligations are met. Scholarships may be awarded based on any number of criteria, such as academics, talent or skills.

Selective Service:
Male students who are U.S. citizens, have reached the age of 18, and were born after December 31, 1959, must be registered with the Selective Service (draft) to be eligible for federal financial aid.

Semester:
A period of time in which the educational program takes place - generally two semesters that are 14 weeks in length, make up the academic year.

SEOG:
See Federal SEOG

SSN:
Social Security Number

Statement of Educational Purpose:
This is a legal document in which the student agrees to use the financial aid for educational expenses only.

Student Aid Report (SAR):
A federal output document, a SAR, is sent to a student by the federal processor as a result of the FAFSA or Renewal FAFSA. The SAR contains financial and other information reported by the student and contains an Expected Family Contribution (EFC)

Student Contribution:
The Student Contribution (SC) is the amount of money the federal government expects the student to contribute to his or her education and is included as part of the Expected Family Contribution (EFC).

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