Enrolling FA
Any remaining amount after tuition and fees for the current term and academic year are covered is sent to the student.
What is a stipend?
The school that you are attending reports this information based on if you are, or were, full-time, three-quarter time, half-time, less than half-time, withdrawn, graduated, etc.
What is an enrollment status?
This is a form filled out by current and future undergraduate and graduate college students in the United States to determine whether they are eligible for student financial aid.
What is FAFSA-free application for federal student aid
A federally mandated process to confirm the accuracy of data provided by selected applicants on the Free Application for Federal Student Aid (FAFSA).
What is verification?
One complete school year at the same school, or two complete, half years at different schools. For schools that have a year-round program of instruction, nine month
What is an academic year?
This flag on a SAR/ISIR is an indication that something on this student's record must be resolved or verified before aid can be awarded.
What is a C-flag?
This refers to the authority of a school's financial aid administrator to make adjustments to the data elements on the FAFSA and to override a student's dependency status.
What is professional judgement?
This explains the obligations you agree to meet as a condition of borrowing a Direct Loan. Topics include: Understand Your Loans, Manage Your Spending, Plan to Repay, Avoid Default and Make Finances a Priority.
What is entrance counseling?
A period of time when your monthly loan payments are temporarily stopped or reduced. Interest will continue to be charged on your loans. Be aware that unpaid interest may be capitalized (added to your loan principal balance)
What is forbearance?
This is a legal document that contains the Borrower’s Rights and Responsibilities and Terms and Conditions for repayment. Direct PLUS and Direct Subsidized / Unsubsidized loans have separate ones.
What is a master promissory note?
A student that is borrowing a federal loan for the first time. There are steps a student must take prior to receiving a loan for the first time. Additionally, if a school does not have a Cohort Default Rate under 15% for each of the last three years, first disbursements delayed by 30 days.
What is a first time borrower or FTB?
This Flag indicates whether the student is subject to the 150% Direct Subsidized Loan limitation.
What is Subsidized Usage Limit Applies (SULA)?
This refers to the duration that a student is taking classes. In most uses, this is interchangeable with payment period. At Post, a payment period is 16-weeks.
What is a Period of Enrollment?
The student's Cost of Attendance, minus their Expected Family Contribution or Family Financial Responsibility (if applicable), less any need-based aid received.
What is unmet need?
This is failure to repay a loan outlined in the agreed promissory note.
What is a default?
This is calculated according to a formula specified in law and is based upon the information provided by the student and their family on the Free Application for Federal Student Aid (FAFSA).
What is the expected family contribution?
This process is what a school uses to determine if a student is meeting all of his or her educational requirements and is on target to graduate on time with a degree or certificate.
What is satisfactory academic progress?
This is someone who has been legally deemed an adult by a court in his or her state of residence.
What is an emancipator minor?
This is paying back money you borrowed by making scheduled payments to a loan holder or servicer.
What is repayment?
Funds are released from the Department of Education to a University through the COD system. The actual funds are processed on a subsequent day.
What is a disbursement?
A student in need of an SEOP, tax transcript, verification worksheet, front and back of ID, and proof of high school completion
What is a V5?
This is the removal of a borrower’s obligation to repay a loan under certain circumstances including but not limited to death, disability, bankruptcy, fraud, and identity theft.
What is loan discharge?
The student's Cost of Attendance minus their Expected Family Contribution, or Family Financial Responsibility (if applicable).
What is need?
This helps to track and compare programs across universities since these are unique to the program not the university.
What is a CIP Code?
This is an electronic federal output document produced by the Central Processing System (CPS) from Free Application for Federal Student Aid (FAFSA®) data.
What is the Institutional Student Information Record ?