A measured term of enrollment such as a semester, quarter, trimester, or clock or credit hour.

This is a measure of academic work to be accomplished by a student. A school defines its own academic year, but federal statute and regulations set minimum standards to determine federal financial aid [..]

A time period for which financial records are maintained and at the end of which financial statements are prepared.

The type of accounting under which incomes are recorded when earned (regardless of when cash is actually received) and expenses are recorded when liabilities are incurred (regardless of when cash is a [..]

Interest on a loan that accumulates and is to be paid in installments later rather than being paid from the time the loan is made. Accrued interest may be compounded or simple. It is usually paid when [..]

Tests required by some colleges to measure student achievement in areas of study such as Math, Science or English.

A test published by American College Testing to measure a student's ability in math, verbal comprehension, and problem solving. Typically, the test is taken during their junior or senior year of [..]

Average daily balance. The sum of unpaid principal balance outstanding on all qualifying loans at each actual interest rate for each day of the quarter, divided by the sum of the number of days in the [..]

Taxable income after all allowable deductions are made, such as IRA deductions, moving expenses, self-employment taxes and health insurance, Keogh retirement plans, and alimony paid.

A combination of financial aid- scholarships, grants, loans, and/or work study determined by the financial aid office of a college.