Financial Aid Terms
The nine months a student is enrolled; two semesters, August
Charges billed by the university: tuition, on-campus housing,
meals, and fees.
Expected Family Contribution (EFC)
Calculated using the information provided on the FAFSA to
determine the family's ability to contribute financially to the
Free Application for Federal Student Aid
The difference between direct costs and the financial assistance
you have been offered (excluding Federal Work Study).
Financial Aid Eligibility (need)
The difference between the total cost of education and the
expected family contribution (EFC). The total amount of assistance
you may be eligible for during the academic year.
Programs available to all families to assist with the family's
obligation to the university regardless of financial aid
Variable living expenses incurred by the student while attending
school: books, transportation, personal expenses, etc.
Merit and Talent Awards
Awards based on academic achievement or performance ability
Payment option for expenses billed by the university (direct
costs); available to students who enroll in the plan during
designated enrollment dates.
Awards based on financial aid eligibility, as determined by the
Federal Direst Loan, Federal Perkins Loan and, student employment
(Federal Work Study).
Total Cost of Education
All expenses involved in attending college for an academic year:
tuition fees, room, meals, books, transportation and personal
For a more complete listing of financial aid terminology,
please visit the Federal Student Aid Glossary.