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Glossary

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Academic Progress
The measure of completion that a student must achieve to maintain eligibility for student financial aid.

Academic Year
The measure of the academic work to be accomplished by a student each year as defined by the school. For instance, at a school that uses terms, the academic year must contain at least 30 weeks of instructional time in which a full-time student is expected to complete at least 24 semester credits/ hours. The academic year at City Tech includes two semesters, fall and spring.

Academic Competitiveness Grants (ACG)
A grant program that became available for the first time in 2006-07 for first-year students who graduated from high school after January 1, 2006, and for second-year students who graduated from high school after January 1, 2005. This grant is in addition to the student's Federal Pell Grant.

Aid for Part Time Study Program (APTS)
A New York State grant program, which provides assistance to those who are attending college on a part-time basis. It is money that is paid to the school for tuition only during the fall and spring semesters. An APTS award is equal to ½ TAP award.

Attempted Credits
The total amount of credits for which the student registered.



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Book Voucher
An advance made to the student at the beginning of the semester from available Pell Grant or Direct Loan funds. The student must have a minimum of $150 remaining from these funds, after the tuition and fees are paid. It is issued by semester for a minimum of $150 and maximum of $350 and is to be used for textbooks and specific educational supplies (i.e. art and drafting supplies, notebooks, pens, etc.) at the college’s bookstore. The book voucher expires approximately 3-4 weeks after the first day of classes.

Borrower
A student, who borrows money, signs a promissory note and is responsible for repaying the loan.



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Campus Based Programs
The Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work-Study (FWS), and Federal Perkins Loan programs because they're administered directly by the financial aid office at each participating school.

Capitalized
An amount that is added to the principal balance of a loan when interest is not paid by the borrower.  This results in an increase in the outstanding principal amount due on the loan. With certain loans, such as subsidized loans, the U.S. Department of Education pays the interest that accrues on these loans while the student is enrolled at least half-time and during periods of deferment. However, with subsidized loans in forbearance, unsubsidized loans or PLUS Loans, the student or the student’s parents and graduate or professional degree students are responsible for paying interest as it accrues on these loans. Interest that is capitalized and therefore added to the original amount of the loan subsequently accrues interest, adding an additional expense to the loan.

Contributory Credits
Remedial and non-remedial courses and other academic activities that are recognized as “creditable” toward fulfilling requirements for a specific degree.

Cost of Attendance
The total amount it will cost students to go to school - usually expressed as a yearly figure. It includes such items as the cost of tuition, fees, books, supplies, transportation, lunch and living expenses.



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Data Release Number (DRN)
The number that is found on the Student Aid Report (SAR), which reflects FAFSA data as completed by the student. The DRN allows the student to release FAFSA data to schools that he did not list on the original FAFSA.

Default
The failure to repay a loan according to the terms agreed to when the student signed the promissory note. Default occurs when the student becomes 270 days delinquent in making a payment on the loan(s). When a Direct Loan becomes 360 days delinquent, the loan is prepared for transfer to the Department' s Default Resolution Group. The consequences of default can be severe.

Deferment
A temporary suspension of a borrower’s monthly loan payment. There are many different types of deferments available. The student can visit www.dlssonline.com for further details on the different types of deferments.

Dependent Student
A student who must provide parent’s income information on his applications for financial aid. The criteria to be considered “dependent”, varies for New York State and federal financial aid eligibility. A dependent student for federal aid is someone who is not at least 24 years old, not married, not a graduate or professional student, not a veteran, not a member of the armed forces, not an orphan or a ward of the court, and not someone with legal dependents other than a spouse. A dependent student for NYS aid is someone who is claimed by the parents on their taxes, lives with them and receives a certain amount of support from them for specific calendar years. As a dependent student, the student must provide income information for himself and his parents.

Disbursement
The process in which a financial aid payment is released (loan or grants) to the student or to the college. A disbursement to the college is one in which the financial award is applied as a payment towards the student’s outstanding bill. A disbursement to the student is usually in the form of a check mailed to the student’s home address, unless the student requests that the check be directly deposited into his account or makes a request to personally pick up the check at the Bursar’s Office, in the Namm Building, Room G-06. Direct deposit requests are made at the Bursar’s Office. Requests to pick up the check in person are made at the Financial Aid Office, Namm Building, Room G-13.

Documentation
Paperwork that provides evidence or information to support data on the student’s financial aid applications. Documents that the student might be required to provide to the school include: copies of his and/or his parents current tax papers and W-2 forms, U.S. passport, Selective Service Registration card, etc.



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Earned Credits
The successfully completed credits of the attempted credits.

Eligibility
A determination of qualifications for certain financial aid programs, such as grants, Federal Work-Study, or loans. Eligibility is usually based on financial need, but it does include other factors.

Eligible Non-Citizen
A person who has an Arrival-Departure Record (I-94) from the U.S. Citizenship and Immigration Services (USCIS) showing one of the following designations:

  • "Refugee"
  • "Asylum Granted"
  • "Cuban-Haitian Entrant, Status Pending"
  • "Conditional Entrant" (valid only if issued before April 1, 1980)
  • Victims of human trafficking, T-visa (T-2, T-3, or T-4, etc.) holder
  • "Parolee" (The student must be paroled and must be able to provide evidence from the USCIS he is in the United States for other than a temporary purpose and that he intends to become a U.S. citizen or permanent resident.)

Entrance Counseling
A quick and easy interactive online counseling session, which provides useful tips and tools to help the student develop a budget for managing his educational expenses and helps the student understand his loan responsibilities. Before receiving a student loan, borrowers must complete an entrance counseling session

Exit Counseling
An online exit counseling session created to make sure that the student understands his rights and responsibilities as a Direct Loan and/or Perkins loan borrower. Prior to graduating or leaving college, borrowers are required to complete an exit counseling session.

Expected Family Contribution (EFC)
An amount, established by law that is a measure of a family's financial strength. This calculation is based on family earnings, assets, students in college, and size of family. The EFC is used in determining financial need for federal student aid.



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Federal Pell
A grant that the student can apply for at www.fafsa.ed.gov. It is awarded to an undergraduate student who has financial need and has not earned a baccalaureate or a professional degree. A grant is money that does not have to be repaid.

Federal Perkins Loan (FPL)
A low interest loan (5 %) awarded by the college to students who carry at least six credits and who demonstrate financial need. It can be used for tuition or other educationally related expenses. The amount actually received depends on financial need, amount of other aid, and availability of funds at the school. Student applies for this loan at www.fafsa.ed.gov.

Federal Supplemental Educational Opportunity Grant (FSEOG)
A grant that assists exceptionally needy students and is intended to supplement other forms of financial aid. Award amounts vary based on the availability of program funds.

Federal Title IV Aid Programs
Federal financial aid programs administered by the U.S. Department of Education made available to students attending college. These programs are: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Federal Work Study, Federal Perkins Loans and Federal Direct and Plus Loans.

Federal Work Study (FWS)
A program that provides part-time jobs to students who need additional financial aid. Jobs are available both on-and off-campus. To receive this award, the student must earn the money and be enrolled for a minimum of six (6) credits.

Financial Aid Award Letter
A letter that summarizes the total amount of financial aid awards, which can include grants, loans, scholarships, and federal work-study, offered to a student to enable him to attend college.

Financial Need
The difference between a student's educational costs and the Expected Family Contribution (EFC).

Form “A” Date
The twentieth (20) day of classes in each semester. At Form” A” date, the student’s enrollment status and eligibility for a NYS grant is certified. (See withdrawal from all classes)

Free Application for Federal Student Aid (FAFSA)
The form a student must complete to apply for Federal financial assistance, which includes Pell Grant, Federal Work-Study, Perkins Loan and Direct Loans. Additionally, the student must complete the FAFSA before applying for NYS financial aid, which includes Tuition Assistance Program (TAP) and the Aid for Part-time Study Program (APTS). The student begins the application process online at www.fafsa.ed.gov.

Full-time
An undergraduate student enrolled for at least 12 credits/hours during the fall or spring semester.



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Grace Period
A period of time when payments are not due on a loan. It begins after the borrower graduates, leaves school, or drops below half-time enrollment and it last for several months, depending on the loan. During the grace period, no interest accrues on subsidized loans. Interest accrues on unsubsidized loans during grace periods, and this interest is capitalized when the borrower’s loans enter repayment.

Grants
Financial aid awards that do not have to be repaid. Generally, grants are for undergraduate students, and the grant amount is based on need, school cost, and enrollment status.



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Half-time
A status of enrollment in which a student is registered for a minimum of six credits or equated credits.  A student must be a least a half-time student to qualify for Supplemental Educational Opportunity Grant, the Federal Work-Study Program, Perkins loan and Direct loans.



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Immigration Status
The legal status conferred on an alien by immigration law.

Independent Student
A student who must only provide income information for himself, and if married, his spouse. An independent student for federal aid must: be at least 24 years old, married, a graduate or professional student, a veteran, a member of the armed forces, an orphan or a ward of the court, or someone with legal dependents other than a spouse. An independent student for NYS aid must not have been claimed by the parents on their NYS taxes must not be living with them or receiving a certain amount of support from them for specific calendar years.



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Loans
Money borrowed from a lending institution or the U.S. Department of Education that must be repaid.



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Master Promissory Note
A binding, legal document that borrowers sign when they obtain loans. Promissory notes define the conditions under which funds are provided and the terms under which borrowers agree to pay back the loan. Promissory notes include information about the interest rate and about deferment and cancellation provisions.

Matriculated Student
A student who has registered for courses and other academic activities that are recognized as "contributing" toward fulfilling the requirements of a specific degree



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Naturalization
The conferring of nationality of a state or country upon a person who has been born under allegiance to another country.



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Overpayment
Funds received by a student, which are above their determined financial need. The student, then, upon notice, is required to repay the college any unearned Federal Title IV funds paid on their behalf. This could be the result of but not limited to full withdrawal from classes, verification, or late award determination. An impound will be placed on the student’s records until resolution of the outstanding debt is met with the Business Office.



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Part-time Student
An undergraduate student enrolled for fewer than 12 credit/hours.

Permanent Resident Alien
A person who enters the country with an immigrant visa or adjusts his status after entering as a nonimmigrant, refugee, or asylee. Persons with this status are entitled to live and work in the United States and collect entitlement benefits, if qualified.

Permit
The ability of a student to take courses towards their major at another institution with the home college’s consent.

Parent Loan for Undergraduate Students Program (PLUS Loans)
A loan made to qualifying parents of dependent undergraduate students enrolled at least half time at a participating school. Federal PLUS Loans are available through the Direct Loan Program and the Federal Family Education Loan Program (FFEL).

PIN (Personal Identification Number)
The number that allows you to access information about your financial aid history in various U.S. Dept. of Education systems. You may also complete and electronically sign the FAFSA, view the status and results of a processed FAFSA and print the summary report (The Student Aid Report (SAR)). You can also make certain corrections to your financial aid application and award history. Additionally, if you are a dependent student, you are required to have one parent sign your application. In this case, the parent can also apply for a PIN and use it to electronically to sign their son or daughter’s FAFSA. The student or parent can apply for a PIN at www.pin.ed.gov.

Post-Withdrawal Disbursement
A determination of Federal Title IV award eligibility that is prorated when a student withdraws from all classes and had valid awards on file before withdrawal.

Professional Degree
A degree that is awarded for professional programs such as pharmacy, dentistry or veterinary medicine.

Program Pursuit (For TAP and APTS)
A minimum percentage of coursework that must be completed every semester to maintain eligibility for New York State programs, i.e. TAP and APTS.

Proration
The student’s Federal Title IV award eligibility for payment that is based on the credits for which the student was enrolled and the number of days the student attended classes. If any outstanding tuition is owed, payments will first be credited to the college and only remaining funds will be paid directly to the student. It is also possible that the student might be responsible for repaying any unearned funds.



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Qualify
A condition or situation that makes a person suitable for various financial aid programs. These conditions can include but are not limited to financial resources, enrollment status, year in college and degree pursued.



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Return of Title IV Aid
The calculation of federal funds used to determine the portion of federal aid returned to the U.S. Department of Education or disbursed to the student, usually in cases where the student withdraws from all his classes.



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Satisfactory Academic Progress
A standard of achievement that a student is required to meet while the student is pursuing his degree. Federal and NYS satisfactory academic progress standards differ. To be eligible to receive federal student financial aid, the student must meet and maintain the college’s standards of satisfactory academic progress toward a degree offered by that college. To be eligible to receive NYS student financial aid, the student must meet the program pursuit and academic progress standards established for the program.

Scholarship
Money that is given to students for financing their college education. A scholarship can be provided by a college or be funded from an outside source.  It does not need to be repaid.

SEEK (Search for Education, Elevation through Knowledge)
A higher education opportunity program dedicated to the success of its students. In addition to providing extra financial assistance, SEEK offers a wide range of academic support and counseling services, including freshman orientation programs, a state-of-the art computer lab, career exploration, tutoring in all areas, personal counseling and academic planning.

Selective Service System (SSS)
A system that serves as a backup to provide manpower to the U.S. Armed Forces. In a crisis requiring a draft, men would be called in sequence determined by random lottery number and year of birth. Men, born after December 31, 1959, who aren't registered with Selective Service won't qualify for Federal student loans or grant programs. This includes Pell Grants, College Work Study, Guaranteed Student/Plus Loans, and National Direct Student Loans.

SMART Grant
A grant awarded to Pell-eligible federal student aid recipients who are majoring in physical, life or computer science, engineering, mathematics, technology, or a critical foreign language. Colleges will be able to tell the student which academic programs are designated by the Department of Education as eligible for SMART Grants. It is made available to students in four year programs in their 3rd and 4th year of study.

Special Circumstances
Situations that might have occurred, such as loss of job or unusual medical expenses that changed your financial situation after filing your Free Application for Federal Student Aid (FAFSA).  In these cases, a Financial Aid Administrator may make adjustments to information on the FAFSA to take into account these special circumstances and it may result in a change in your award amount.

Student Aid Report (SAR)
The summary report of data that the student provided on the Free Application for Federal Student Aid (FAFSA). The schools the student lists on the FAFSA will receive an electronic copy of the SAR. If that information is complete and accurate, and if the student is eligible, the student’s college will use the SAR in awarding federal student aid to him.

Subsidized Loan
A loan, also referred to as Federal Direct Stafford/William D. Ford Federal Direct Loan, offered by the U.S. Department of Education on the basis of the student's financial need and other specific eligibility requirements. The federal government does not charge interest on these loans while borrowers are enrolled at least half time, during a six-month grace period, or during authorized periods of deferment. City Tech offers the William D. Ford Federal Direct Subsidized Loan.



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Tuition Assistance Program (TAP)
A grant awarded to New York State residents attending in-state colleges and higher education institutions to help pay for tuition. Depending on the academic year in which the student began study, annual TAP awards can be as much as $4,000 at New York City College of Technology. Because TAP is a grant, it does not have to be paid back.



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Undergraduate Student
Someone who is enrolled in an undergraduate course of study and who has not earned a baccalaureate degree, or its equivalent or professional degree.

Unsubsidized Loan
A loan, also referred to as Federal Direct Unsubsidized Stafford/William D. Ford Federal Direct Unsubsidized Loan, from the U.S. Department of Education. It is a federally financed student loan made to students meeting specific eligibility requirements. Interest is charged throughout the life of the loan. The borrower may choose to pay the interest charged on the loan or allow the interest to be capitalized (added to the loan principal) when the loan enters repayment. City Tech offers the William D. Ford Federal Direct Unsubsidized Loan.



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Vallone Scholarship
A scholarship that is awarded to high school graduates to help them finance their college education. It is awarded to students who have proven their ability to succeed academically while in high school. There is no separate application for the scholarship. Students are automatically considered for the award when they apply for admission to CUNY.

Verification
A process in which a student’s FAFSA data has been selected for review and validation. In this process, the student’s college will be comparing information from the student’s FAFSA with supporting documentation, such as signed copies of the student’s (and, if dependent, the student’s parents’) current Federal tax forms and W-2 forms or other financial documents, U.S. passport, Selective Service Registration card.



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Withdrawal
A formal discontinuance of attendance in all or part of courses in which registered.


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