Financial Aid Terms
What is "It depends?
SAI is the acronym that stands for this.
What is Student Aid Index?
The number of credit hours is limited to this number for the IL Map Grant.
What is 135 paid credit hours?
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?
Name the most commonly used Veteran Affairs (VA) benefit.
What is the Post 9/11 GI Bill Chapter 33?
The method of determining if a student unofficially withdrew during the semester based upon 0 term GPA.
What is the last day of attendance or academic engagement?
FUTURE Act is the acronym that stands for this.
What is Fostering Undergraduate Talent by Unlocking Resources for Education
In the case of a student who has IL Map Grant and IL Veterans Grant (IVG), which program must be used before the other.
What is IVG?
An undergraduate student under the age of 24 who was married and later divorced will be in this status.
What is Dependent student?
This status allows students, due to their specific unusual circumstances, to submit a FAFSA without parental information.
What is Provisional Independent?
Name the document that is the agreement between the school and the Department of Education to administer Title IV financial aid.
What is the Program Participation Agreement?
FSEOG is the acronym for this.
What is Federal Supplemental Educational Opportunity Grant?
This program was created in 1988 to prepare students for successful teaching careers.
What is the Golden Apple Scholars Program?
This is a number that determines each student's eligibility for certain types of federal student aid.
What is the Student Aid Index (SAI)
In an R2T4 calculation, this type of federal student aid is returned first.
What are student loans?
The new term for dependency overrides.
What is Unusual Circumstances?
DPA is the acronym for this term.
What is Destination Point Administrator?
This replaces the Student Aid Report (SAR) as the student's output document providing a summary of data input on the FAFSA form.
What is FAFSA Submission Summary?
The IRS tax data import process on the 2024-25 FAFSA.
What is the FA-DDX or Future Act Direct Data Exchange?
The method used in determining eligibility for federal student aid programs.
What is Federal Methodology?
This a program that prepares students for work in a recognized occupation.
What is a Gainful Employment?
SAVE is the acronym for this.
What is Systematic Alien Verification for Entitlements?
This is one of the most common financial aid questions.
What is "where is my refund"?
This type of income is no longer excluded from need analysis on the 24-25 FAFSA, but FAAs may review and exclude it.
What is Foreign Earned Income?
This is the process of analyzing the household and financial information on the student's financial aid application and calculating a SAI.
What is Need Analysis?