Glossary of Terms

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

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

The official document sent by the Office of Student Financial Services 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.

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.

The estimated total cost of attending an institution for one academic year. This amount may include the following:

• Estimated charges for one academic year of tuition and fees
  • Tuition—Charges assessed for classes and/or other coursework
  • Fees—Charges assessed for other college services (e.g., technology access, recreational center use)
• Housing—Includes residence hall charges for on-campus students or an estimate of rent and utilities for an off-campus student
• Food—Includes the cost of a meal plan and/or an estimate of the costs of food prepared at home
• Estimated transportation and parking costs
• Estimated costs for books and supplies
• Purchase or rental of a computer
• Miscellaneous costs such as personal hygiene, laundry and reasonable entertainment
• Other costs specific to certain student circumstances related to attendance, such as dependent care during periods of class attendance or study, expenses related to disabilities, study abroad, educational loan fees, and others
• Student health insurance costs

The unit of measurement of the value of course work.

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.

Estimated charges included in the Cost of Attendance that the student/family pays directly to the college.

A form of financial aid that must be repaid. Educational loans have varying fees, interest rates, repayment terms, and/or borrower protections.

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.

Academic workload (or course load), as defined by the institution, in which a student is enrolled for a defined academic period. This normally relates to the number of credit hours or clock hours taken by a student during a given academic period (e.g. full time, three-quarter time, half-time, less than half-time).

Charges included in the Cost of Attendance that the student/family pays directly to the college.

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

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.

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.

Many schools award institutional need-based scholarships and grants based upon a more comprehensive calculation of family financial circumstances, using information provided on the CSS PROFILE or the institution’s own financial aid form. This can result in a higher (or lower) figure than the Free Application for Federal Student Aid (FAFSA) might indicate with its Expected Family Contribution (EFC) estimate.

Loan funds provided to the student by the U.S. Department of Education, through the school. Undergraduate students with financial need can qualify for a subsidized loan. The government pays the interest on the loan while the student remains enrolled at least half-time and during certain periods when the government allows deferment of repayment. There are annual limits on the amounts that may be borrowed, which vary by the student’s academic year in school and the student’s dependent or independent status.

Loan funds provided to the student by the U.S. Department of Education, through the school. Undergraduate students and graduate students, regardless of their need, qualify for an unsubsidized loan, provided they have filed the Free Application for Federal Student Aid (FAFSA). Interest accrual begins immediately, and the student can choose to pay the interest while enrolled or upon entering repayment. There are annual limits on the amounts that may be borrowed, which vary by the student’s academic year in school and the student’s dependent or independent status.

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 a loan amount up to their Cost of Attendance each year, less any other financial aid received.

Loan funds provided to the parents of dependent undergraduate students by the U.S. Department of Education, through the school. This federal loan program allows parents with no adverse credit history to apply for a loan amount up to the Cost of Attendance each year, less any financial aid received by the dependent student. Repayment of principal and interest begins immediately once the loan is fully disbursed, with some options to delay payment available.

A federal grant provided by the federal government to undergraduate students who demonstrate exceptional financial need and have an Expected Family Contribution below a certain threshold established by the federal government. The Pell Grant award amount is prorated based on Enrollment Status.

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 federal grant awarded by the institution to qualified undergraduate students who demonstrate exceptional financial need. Priority is given to Federal Pell Grant recipients.

Federal funds made available to the student that must be paid back by the student. Students must complete Entrance Counseling and a Master Promissory Note (MPN) to receive these loans. Repayment begins six months after the student ceases to be enrolled at least half-time with options to delay payment available. To be eligible, the student must be enrolled at least half-time in an eligible program of study.

A federal program offered and administered by the institution that provides opportunity for part-time employment to students with financial need to help pay their educational expenses. Students are responsible for finding qualified employment. Funds are paid out through a paycheck, as earned.

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.

A federal grant awarded by the institution to qualified undergraduate students who demonstrate exceptional financial need. Priority is given to Federal Pell Grant recipients.

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

Funds awarded to the student that do not have to be repaid, unless the student fails to meet certain criteria, such as a service requirement that is specified as a condition of the gift aid or not completing the period for which the aid was awarded. Gift aid can include awards with titles such as grants, scholarships, remissions, awards, waivers, etc. Gift aid can be awarded based upon many factors, including (but not limited to) financial need, academic excellence, athletic, musical and/or theatrical talent, affiliation with various groups, and/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. Repayment of principal and interest begins 30 to 60 days after the loan is fully disbursed with deferment and forbearance options available.

Gift Aid that is typically based on financial need.

Registration for 6 to 8 credits per semester.

Estimated expenses in the Cost of Attendance that are not paid directly to the institution.

A student’s contract with their institution or a private entity to pay a percentage of their future earnings for a fixed period after graduation in exchange for funds to pay for their education while enrolled.

A federal grant to qualifying students with a parent or guardian who died as a result of U.S. military service in Iraq or Afghanistan after September 11, 2001. If a student is eligible for a Federal Pell Grant, he or she cannot receive an IASG.

Registration for fewer than six credits per semester.

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

The student’s Cost of Attendance minus their Expected Family Contribution, or Family Financial Responsibility (if applicable).

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 is applied. Net price can be covered through a variety of sources, including: savings, income and education loans.

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.

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.

A federal grant provided by the federal government to undergraduate students who demonstrate exceptional financial need and have an Expected Family Contribution below a certain threshold established by the federal government. The Pell Grant award amount is prorated based on Enrollment Status.

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

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

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

Gift Aid that is typically based on merit, such as academic excellence, talent, affiliation with various groups, or career aspirations or a combination of merit and need.

An institution’s expectation that a student contribute toward their education using a combination of loans, student employment such as Federal Work-Study, and/or summer savings.

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.

The Student Aid Index (SAI) is an eligibility index number that your college’s or career school’s financial aid office uses to determine how much federal student aid you would receive if you attended the school. This number results from the information that you provide on your FAFSA® form. This number is not a dollar amount of aid eligibility or what your family is expected to provide. A negative SAI indicates the student has a higher financial need. Learn how the SAI is calculated.

The FAFSA Simplification Act replaced the Expected Family Contribution (EFC) with the SAI.

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.

A federal grant awarded by the institution to qualified undergraduate students who demonstrate exceptional financial need. Priority is given to Federal Pell Grant recipients.

Federal grants for undergraduate and graduate students, awarded in exchange for specific future teaching service in designated high-need fields and low-income elementary and secondary schools. If a student does not complete the required teaching service, the grant becomes a Federal Direct Unsubsidized Loan that must be repaid.

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.

The student’s Cost of Attendance, minus their Expected Family Contribution or Family Financial Responsibility (if applicable), less any need-based aid received, such as Gift Aid, Federal Work-Study or Federal Direct Subsidized Loans.

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.

A federally mandated process to confirm the accuracy of data provided by selected applicants on the Free Application for Federal Student Aid (FAFSA). To complete the verification process, the student, their parent(s) or spouse, if applicable, are required to provide certain documents to the school for review. If the documentation the student provides the institution doesn’t match what was reported on the FAFSA, verification can result in changes to the student’s financial aid eligibility and/or financial aid offers.