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Forms, Terms and Websites
This page will continue to be updated as more information becomes available about the changes to the FAFSA.
FAFSA
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. Please note, significant changes were made to the FAFSA in 2023-2024.
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.
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 2026 will file the FAFSA using taxes from 2024.
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.
PLUS Loans
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
MyinTuition
MyinTuition is a tool that, in only three minutes, provides a personalized estimate of what it would cost an individual to attend college.
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.
IDOC
IDOC is a service within the CSS Profile that collects family financial documents and distributes them to institutions on behalf of the student.
SAI
The Student Aid Index is an eligibility index number that a college's or career school's financial aid office uses to determine how much federal student aid the student would receive if the student attended the school. This number results from the information that the student provides in their FAFSA form.
SAR
Student Aid Report. The multi-page report that is issued to students who have completed the FAFSA.
Pell Grant
A federally funded need-based grant program. Funds from this program are generally awarded to lower- and lower-middle income families.
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.
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.
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.
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.
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.
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.
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.