College Admissions & Financial Aid Glossary

A binding application option where students commit to attend if accepted.

A non-binding early application option that allows students to apply and receive decisions early.

The standard application option with later deadlines and decision notifications.

Applications are evaluated as they are received until all spots are filled.

A list of applicants who may be offered admission if spots become available.

Free Application for Federal Student Aid, the primary form for applying for federal financial aid.

College Scholarship Service Profile, an additional financial aid application required by some private colleges.

The amount a family is expected to contribute toward college costs based on their financial information.

The new term replacing EFC, indicating a family's financial strength for aid determination.

Financial aid that doesn't need to be repaid, often based on financial need.

Financial awards based on academic, athletic, or other achievements rather than financial need.

Financial awards based on a student's demonstrated financial need.

Scholarships offered directly by colleges and universities to their students.

Scholarships offered by organizations, companies, or foundations outside of colleges.

Scholarships that can be renewed for multiple years if certain criteria are maintained.

Federal loans where the government pays the interest while the student is in school.

Federal loans where interest accrues while the student is in school.

Federal loans available to parents of dependent undergraduate students or to graduate students.

Loans from private lenders rather than the federal government, often with different terms.

Programs that cancel all or part of a student loan under certain circumstances.