Financial Aid Terms
This federal regulation mandates that institutions participating in Title IV programs must have a written policy for refunding tuition and fees.
What is the Return of Title IV Funds?
This type of data includes any federal tax information provided by the IRS to ED and tax filing status
What is FTI (Federal Tax Information)?
This replaces the SAR and summarizes information provided on the FAFSA and basic eligibility for federal financial aid.
What is the FSS (FAFSA Submission Summary)?
In cases of divorce, this parent is determined to be the contributor on the student's FAFSA.
Who is the parent who provided the majority of the student's financial support?
What is Consumer Information?
An adjustment to the FAFSA affecting SAI or to the Cost of Attendance.
What is Professional Judgment?
This type of data includes demographic information and student dependency status, and financial asset information.
What is FAFSA data?
This type of loan forgiveness is available to borrowers who make 120 qualifying payments under a qualifying repayment plan while working full-time for a qualifying employer.
What is PSLF (Public Service Loan Forgiveness)?
This is the minimum Pell grant amount
What is $740?
This is the Federal deadline to submit the 2025-2026 FAFSA.
What is June 30, 2026?
Standard term, nonstandard term, non-term and subscription-based are type of what?
What is Academic Calendars?
This is the length of time that HEA requires schools to maintain a student's written consent to disclose FAFSA data.
What is three years?
This is calculated using family income and assets.
What is the SAI (Student Aid Index)?
This is the official name given to the individual(s) whose information is required on the student's FAFSA.
What are FAFSA Contributors?
This FAFSA question determines whether a student is considered a “provisional independent” applicant, potentially qualifying for a dependency override.
What is the unusual circumstances question?
This is the process of analyzing the household and financial information on the FAFSA and calculating a SAI.
What is Need Analysis?
Under FERPA, schools must have this to disclose the educational record to the student's parent and or spouse.
What is prior written consent?
The Department of Education template that enables students to compare institutions financial aid offers.
What is the CFP (College Financing Plan)?
This is a type of disbursement of financial aid in which a student receives aid for a past payment period after that period has already ended.
What is a retroactive disbursement?
This type of asset is not reported on the FAFSA, even though it may significantly impact a family’s financial strength.
What is retirement savings (e.g., 401(k), IRA)?
This is the percentage of full-time enrollment at which a student is enrolled, rounded to the nearest whole percent.
What is Enrollment intensity?
What is the legislation that governs the use of Federal Tax Information, or FTI?
What is the Internal Revenue Code (IRC)?
This is a portion of a student's income that is not considered when calculating financial aid eligibility.
What is IPA (Income Protection Allowance)?
The method used in determining eligibility for federal student aid programs.
What is Federal Methodology?
Students can skip the asset question on the 2025-2026 FAFSA if the family meets this adjusted gross income threshold and does not file certain IRS schedules.
What is an adjusted gross income of less than $60,000?