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Glossary of Financial Aid Terms

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Title IV:
A section of the Higher Education Act of 1965, that authorizes federal loan, work, and grant financial assistance programs.

Title IV School Code:
A unique code used on the FAFSA or Renewal FAFSA to identify each school. Long Island University's school code is 004779.

Transfer Student:
A transfer student is one who attended and earned credit at one school, then transfers to another school to finish his/her education.

Tuition:
The amount of money colleges charge for classroom and other instruction, based on a per credit charge, or on a flat rate.

Tuition Assistance Program (TAP):
A New York State grants program for New York residents, and U.S. permanent residents, attending an approved postsecondary institution on a full-time (12 credits or more) basis.

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Undergraduate Student:
A degree-seeking student at a college or university who has not earned a first bachelor's degree is considered an undergraduate student.

US Department of Education (ED, DOE, USED, DE):
This is the government agency that administers several federal student financial aid programs, including the Federal Pell Grant, the Federal SEOG Grant, the Federal Work-Study/America Reads Program, the Federal Perkins Loan, and the Federal Direct Student Loan Program.

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