Glossary

Financial aid lingo can be confusing. Simply click on the term to view
the definition.

Accrued Interest
Applicant
Asset Transfer
Authentication
Auto Pay
Borrower
Borrower Consent
Borrower Rights and Responsibilities

Capitalization of Interest
Combination
Consolidation
Cost of Attendance
Credit-ready
Credit-worthy
Default
Deferment
Delinquency
Department of Education Standards

Dependent Student
Digital Signature
Disbursement
Domestic School
Electronic Document or Record

Electronic Funds Transfer
Electronic Signature
Electronic Signatures in Global
and National Commerce Act (ESIGN)
Entrance/Exit Interview
Expected Family Contribution

Federal Direct Loan Program
(FDLP)
Federal Family Education Loan
Program (FFELP)
Financial Aid Package
Financial Need
First-time Student
Forbearance
Free Application for Federal
Student Aid (FAFSA)
Full-time Student
Grace Period
Graduated Repayment
Graduate Student
Guaranty Agency
Guarantee Fee
Holder
Income-sensitive Repayment
Indeptedness
Independent Student
Institutional Grant
Interest
International Student
Lender
Master Promissory Note (MPN)

Merit-based Aid
Need-based Aid
Nonresident Alien
Origination Fee
Originator
Pell Grant
Perkins Loan
PLUS Loan
Portable Document Format (PDF)

Prepayment
Principal
Private Institution
Private (Alternative) Loan
Proprietary School
Repayment
Repayment Schedule
Resident Alien or Other Eligible
Noncitizen
School
Secondary Market
Self-contained Records
Servicer
Special Allowance Benefits
Stafford Loan
Standard Repayment
State Grants
Subrogation
Subsidized Stafford Loan
Supplemental Educational Opportunity
Grant (SEOG)
Title IV
Trusted Third Party
Tuition
Undergraduate Student
Unsubsidized Stafford Loan