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NOT MY TYPE
MONEY MATTERS
STATS TO KNOW
CRAZY FOR ACRONYMS
IS IT MEANT TO BE?
100

Something required as a prior condition for something else to happen. (A lower level class must be taken to take higher-level class….example: Biology 1 before Biology 2)

What is a Prerequisite? 

100
This is the federal government’s instrument for calculating need-based aid. It is available from high school guidance departments, college financial aid offices, and the Internet. The form should be as soon after January 1 as possible.
What is the Free Application for Federal Student Aid (FAFSA)?
100

Completion rate of the cumulative/attempted credit hours to maintain financial aid.

Sixty-Seven Percent

100

National Merit Scholarship Qualifying Test — This test, given in October, duplicates the kinds of questions asked on the SAT but is shorter and takes less time. Usually taken in the junior year, the test also acts as a qualifying instrument for the National Merit Scholarship Awards Program and is helpful for early college guidance.

What is the Preliminary Scholastic Assessment Test (PSAT)?

100
An admissions decision. You are not in. The decision is made by the college or university admissions committee and is forwarded to you and your high school.
What is Deny?
200

There is no deadline for filing a college application. This concept is used most often by state universities. Responses are received within three to four weeks. If admitted, a student is not required to confirm, in most cases, until May 1. Out-of-state residents applying to state universities should apply as early as possible.

What is Rolling Admissions?

200

The total amount of financial aid a student is eligible to receive. It might include grants, work-study and loans, and is assembled by the college's financial aid office.  

What is a Financial Aid Package?

200
A year or a semester or an intensive experience equal to a course and considerable interaction between the student and the culture.
What is Study Abroad?
200

The calculated cost of attending the college, for a period of enrollment (such as an academic year), which includes transportation, room and board, tuition and fees, and the estimated cost of books, supplies and other expenses. COA is used to determine eligibility for financial aid.

What is Cost of Attendance (COA)? 

200
This admission decision indicates that you are not in yet but have been placed on a list in case and opening becomes available. Schools rank in order of priority, and unfortunately, the more competitive schools have years when they never draw from their wait lists. After a certain time, a rejection notice is sent.
What is Wait List?
300
A student applies to a school early in the senior year, between October 30 and January 15, and requests an early application review and notification of admission. The answer usually takes three to four weeks after application. If accepted, the student is not obligated to attend that institution but can bank this admission and still apply to other colleges during the regular admission cycle.
What is Early Action?
300
More “free” money, these awards are based on excellence in academics, leadership, volunteerism, athletic ability, and other areas determined by the granting organization, which can be a college or university, an organization, or an individual. They are not based on financial need.
What is Merit-Based Scholarship?
300
This is an experience-based opportunity, most often scheduled during breaks in the academic calendar, whereby a student receives credit for a supervised work experience related to his or her major.
What is an Internship?
300
Several hundred colleges have dropped the requirement that every applicant submit SAT or ACT scores, part of a gradual priority shift in college admissions away from standardized tests. Also flexible testing policy that gives students greater flexibility in applying and is in line with current research regarding the role standardized tests should play in the admissions process.
What is Test Optional?
300
The admissions decision is being moved to a later date.
What is Deferred Acceptance?
400
Sometimes confused with Early Action, this plan allows students to apply to an institution early in the senior year, also between October 30 and January 15, and request an early notification of admission. The student and counselor sign a contract with the school at the time of application that indicates that if accepted, the student is obligated to attend that institution.
What is Early Decision?
400

When the federal government changed the FAFSA form several years ago, the College Board created this program to assist postsecondary institutions, state scholarship programs, and other organizations in measuring a family’s financial strength and analyzing its ability to contribute to college costs. This processes the PROFILE financial form that students may use to apply for nonfederal aid. This form is submitted to some 300 private colleges and universities along with the FAFSA when seeking financial aid from these institutions.

What is the College Scholarship Service (CSS)?

400
This phrase refers to sororities and fraternities. These organizations often have great impact on the campus social life of a college or university.
What is Greek Life?
400
Reasoning Test — Also known as “board scores” because the test was developed by the College Board. This test concentrates on verbal, mathematical reasoning, and writing abilities and is given throughout the academic year at test centers. The maximum combined score for the three sections is 2400.
What is the Scholastic Assessment Test (SAT)?
400
This happens on occasion and most typically happens when a student’s grades drop significantly after the student is admitted. If there are extenuating circumstances behind this, it should be explained. Also if the student is suspended from school or arrested outside of school and dishonesty on his or her application is likely to lead to this.
What is Revoked Admission?
500
Most common option for 4-year colleges and universities. Students must submit their applications by a specific date, usually in January.
What is Regular Decision?
500
Admissions decisions made without reference to a student’s financial aid request, that is, an applicant’s financial need is not known to the committee at the time of decision.
What is Need-Blind?
500
The concentration of a number of credit hours in a specific subject. Colleges and universities often specify the number of credits needed to receive a major, the sequence of courses, and the level of course necessary to complete the requirements.
What is a Major?
500

The __ allows students to self-report courses and grades that have been completed, or will be attempted (e.g., senior year courses in-progress), for high school credit. 

What is the Self-Reported Academic Record (SRAR/SSAR)

500
An admissions decision. You’re in! You are being offered a place to the college to which you applied. Your high school will receive notification, too.
What is Admit?