Financial Aid, A to Z.
Found a word your’re not sure about? Here’s a list of some terms you might come
across along the way.
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Capitalized
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With certain loans, such as subsidized FFEL 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. When the interest is not paid, it is capitalized or added to the principal balance, which increases the outstanding principal amount due on this loan. Interest that is capitalized and, therefore, added to the original amount of the loan subsequently accrues interest, adding an additional expense to the loan. |
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Community College
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Sometimes called junior college or two-year college. Students can take classes, and then transfer to a four-year school, or they can earn certificates, diplomas or associate's degrees. |
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Consolidation
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The process of combining one or more loans into a single new loan. |
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Cost of Attendance (COA)
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This is the total cost of attending a college or university, including tuition, room and board, books, lab fees, transportation and basic living expenses. |
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Credit Hour
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Credit hours are units of value given to classes. Some classes may be worth two or three credits, while others are worth four credits. Credits vary by class and by school. Many schools base tuition costs on the number of credit hours taken. Some charge a specific dollar amount per credit hour. |
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CSS Profile
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The College Scholarship Service Profile is a financial aid form that many colleges and universities use to determine how much non-federal financial aid a student may be eligible for. |