Old Forms, Terms & Websites

Financial Aid

CSS Profile

A need analysis document written and processed by the College Board. Many colleges use the Profile to help them award non-federal student aid funds. There is a fee associated with this form.

Institutional Aid Forms

Some colleges have their own financial aid forms in addition to the ones mentioned above. Check with each college and be sure to follow their instructions.

The Excelsior Scholarship

In combination with other student financial aid programs, this scholarship allows students to attend a SUNY or CUNY college tuition free.

Cost of Attendance

A figure, estimated by the college that includes the cost of tuition, fees, room, board, books, and supplies as well as an allowance for transportation and personal expenses.

The Free application for Federal Student Aid is the needs analysis document written by the US Department of Education. This form is required for virtually all students seeking financial aid including the unsubsidized Stafford loan.

FAFSA

SAI

Expected Family Contribution. The amount of money the family is expected to contribute for the year toward the student’s cost of attendance. This figure is compared to the cost of attendance to determine a student’s aid eligibility.

SAI

SAR

Student Aid Report. The multi-page report that is issued to students who have completed the FAFSA.

Award Letter

The notice sent to a student who has applied for need-based aid, detailing the types and amount of aid for which a student is eligible at a given school.

Pell Grant

A federally funded need-based grant program. Funds from this program are generally awarded to lower- and lower-middle income families.

Prior Prior Year

PPY refers to a policy enabling students and families to file the FAFSA using tax information from two years ago. For example, a high school senior planning to enroll in college in Fall 2024 will file the FAFSA using taxes from 2022.

Grant

Gift aid that is generally based on need. The programs can be funded by the federal and state governments as well as the individual schools.

SEOG

Supplemental Educational Opportunity Grant. A federally funded need-based grant program for undergraduate students that is awarded by the school’s financial aid office.

Loan

Refers to the part of the student’s financial aid package that needs to be paid back.

PLUS Loan

Parent Loans for Undergraduate Study. A federally sponsored educational loan program in which parents can borrow up to the total cost of attendance minus any financial aid received. Eligibility is not based on need.

Work Study

A part-time job funded by the government and administered by the college. Jobs are awarded on the basis of need and are factored into the aid package.

Free Scholarship Search Engines

http://www.fastweb.com

https://www.goingmerry.com/

Perkins Loan

A federally funded need-based program that provides low interest loans and is administered by the school’s financial aid office. In most cases, repayment does not begin until nine months after the student graduates and there are no interest charges while the student is in school.

Perkins Loan

TAP

The New York State Tuition Assistance Program helps eligible New York residents pay tuition at approved schools in New York State. Depending on the academic year in which you begin study, an annual TAP award can be up to $5,665. Because TAP is a grant, it does not have to be paid back.

TAP

Free Application for Federal Student Aid (FAFSA)

http://www.fafsa.ed.gov

Stafford Loan

A federally funded program that provides low-interest loans and is administered by a bank or other lending institution. In most cases, repayment does not begin until six months after the student graduates and there are no interest charges while the student is in school. There are two types of Stafford loans: subsidized and unsubsidized. The subsidized loan is need-based and the government pays the interest while the student is in school. The unsubsidized loan is non-need-based and can be taken out by virtually all students.

Stafford Loan

Net Price Calculator

Every college is required to provide a Net Price Calculator on their website. NPC’s allow students to enter information about their family’s finances in order to receive an estimate of what they might receive in aid from that institution.

Net Price Calculator

SmartTrack

https://CollegeFundingKit.com/Friends

National Association of Financial Aid Administrators