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Definitions (33)
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529 PLAN
A tax-advantaged investment vehicle in the United States designed to encourage saving for the future higher education expenses of a designated beneficiary.
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Award Amount
Amount of aid a school expects to pay a student based on the student’s current grant and loan eligibility, enrollment, Expected Family Contribution (EFC), and the school’s cost of attendance.
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Award letter
An offer from a college or career school that states the type and amount of financial aid the school is willing to provide if you accept admission and register to take classes at that school.
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award year
School year for which financial aid is used to fund a student’s education. Generally, this is the 12-month period that begins on July 1 of one year and ends on June 30 of the following year.
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COA
Cost of Attendance, is the total amount it will cost you to go to school—usually stated as a yearly figure. COA includes tuition and fees; room and board (or a housing and food allowance); and allowan [..]
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Common Application
An undergraduate admission application used to apply to any of 625 member colleges and universities. Its mission is to encourage the use of “holistic admission.”
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CSS PROFILE
College Scholarship Service Profile, is an application distributed by the College Board in the United States allowing college students to apply for financial aid. It is primarily designed to give priv [..]
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Direct PLUS Loan
A loan made by the U.S. Department of Education to graduate or professional students and parents of dependent undergraduate students for which the borrower is fully responsible for paying the interest [..]
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Early action
An early admission process to schools that demonstrates a stronger desire to attend. This also allows for an earlier decision to be made by the school.
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Early decision
Similar to Early Action, however Early Decision is a binding agreement that upon acceptance the student must and will attend the school accepting them.
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