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Academic Record
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Academic information kept on file by the school. This record includes transcripts
of grades, test scores, and related academic materials.
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Accrued Interest
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The interest that accumulates on the unpaid principal balance of a loan.
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ACT (American College Testing Program)
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A nonprofit agency that designs and administers tests used by college and university
admission offices. The ACT tests students' ability in English, mathematics,
reading, and reasoning.
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Admission Test
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A standardized test used in the admission process to predict the likelihood of a
student's success in college (See ACT and SAT).
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AP (Advanced Placement Tests)
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A standardized test designed for students who have completed college-level work
in high school. AP tests are given in specific subject areas and are used to determine
if a student may gain advanced standing and/or college credit.
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Application
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The process students must follow to submit required forms and materials for admission
to a college or university.
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APR (Annual Percentage Rate)
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The interest maintained on a loan for a one-year period.
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Articulation Agreement
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An agreement between a two-year community college and a four-year college, that
guarantees a graduate of the two-year school admission to the four-year school.
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Bachelor's Degree Also called a baccalaureate degree.
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A four-year degree for study in specific subjects. A Bachelor of Arts (BA) usually
requires a foreign language; a Bachelor of Science (BS) includes more science and
math, and a Bachelor of Fine Arts (BFA) emphasizes fine and applied arts.
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Capitalization
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The addition of unpaid accrued interest to the principal balance of a loan, which
increases the total outstanding debt.
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Certificate
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Recognition provided to a student for completion of short-term vocational or career
training programs, usually a year or less in length.
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CIS (Career Information Service)
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The Oregon CIS is a computer program that lists information about careers, postsecondary
educational training programs, and scholarships. This program is available in many
high school counseling centers in Oregon and is updated annually.
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Class Rank
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A student's approximate standing in his or her graduating class. Rank is based
on grade point average and presented either in "percentiles" (such as
"upper fift") or numerical order (such as 72nd in a class of 410).
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College Admission Counselor
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A professional educator employed by a college or university to assist students with
the admission process, exploration of educational options, and the transition from
high school to postsecondary education.
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College Catalog
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A publication developed by a college or university to promote and present information
about its campus, academic programs, student life, costs, and other related information.
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College Fair or (College Night)
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A program organized to allow high school students and their parents and other prospective
postsecondary students to meet and talk with representatives from different colleges
and universities.
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College Guides
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Publications that include profiles of colleges and universities and can be used
as part of the college exploration process.
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College Preparatory Courses
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High school courses that provide students with the knowledge and skills required
to do college-level study.
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College Visit
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On-site visit by student to a college or university campus to observe first-hand
the academics, student life, and related campus features. Students may visit independently
or as part of an Open House.
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College
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A postsecondary educational institution where students study to earn two- or four-year
undergraduate degrees.
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Community Colleges
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Public educational institutions that offer certificate programs (one year) and associate
degrees (two years). Students may transfer from a community college to a four-year
school.
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Credit Hour
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A unit of academic credit that often represents one hour of class time per week
for a period of study (semester, quarter, etc.).
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Deferred Admission
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The practice by some colleges of allowing an accepted student to postpone enrollment
for one year.
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Diploma
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A document issued by a school, college, or university to students who have met coursework
and graduation requirements for a degree.
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Disbursement
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A transaction in which the school releases financial aid funds to a student’s account.
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Elective
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An optional course that a student may take to meet total graduation requirements
but that is not required for the student's program of study.
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ETS (Educational Testing Services)
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ETS is a private nonprofit organization that provides information about college
and graduate school admissions and placement tests.
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Expected Family Contribution (EFC)
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The dollar amount that a family is expected to pay toward a student’s educational
costs. This calculation is based on family earnings, assets, number of children
in college, and size of family reported on a student’s FAFSA and calculated by the
US Department of Education’s Central Processing System.
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Extracurricular Activity
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Any school activity, such as athletics, drama, or music, that offers the student
the opportunity to complement his or her classroom experiences.
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FAFSA (Free Application for Federal Student Aid)
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The federal application form that students must complete in order to apply for virtually
all types of financial aid: Pell Grants, State Grants, Institutional Grants, Tuition
Waivers, Work Study, and Loans.
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Federal Perkins Loan
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A federal loan program that carries a low interest rates and may be offered by a
college as part of a student's financial aid package.
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Direct Stafford Loan
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This federal student loan is financed by the U.S. Department of Education and funded
by the U.S. Treasury. In some cases, the loan is subsidized, meaning that the federal
government pays the interest while the student is in school.
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Fee Waiver
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Students may qualify to have fees for a college application and/or an SAT/ACT admission
test deferred if they can show proof of financial need, such as eligibility for
the school free lunch program. See your high school counselor.
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Financial Aid (or Assistance)
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Any financial award given to a student. It may be in the form of a grant, scholarship,
work-study job or loan.
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Financial Need
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The difference between the student's educational costs and the Expected Family Contribution.
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GPA (Grade Point Average)
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An average of the student's academic achievement in grades for a specific time period.
An accumulated GPA is the average over an entire school year.
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Graduate Student
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A student who has already received a bachelor's degree and is working toward a Master’s
or Doctoral degree.
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Graduation Requirements
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Standards set by the school or state for awarding a high school diploma or a college
certificate or degree.
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Grant
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An outright financial gift for college costs, usually based on financial need. A
grant is a form of financial aid that does not have to be paid back.
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Independent Institution
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A nonprofit educational institution that is not funded by public taxes. Tuition
costs are the same whether the student lives in that state or is a resident of another
state.
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Interview
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Face-to-face conversation (individual or group) between a prospective student and
the admission representative(s) of a college or university.
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Liberal Arts
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A course of studies in college that provides a well-rounded education in the arts,
sciences, and the humanities as well as career courses.
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Loan
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Money borrowed to pay for college expenses. Loans must be repaid, usually with interest.
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Loan Consolidation
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Combining two or more education loans into a new loan with a new payment schedule
and interest rate.
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Loan Default
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The failure to repay a loan in accordance with the terms of the promissory note.
For federal student loans, default occurs after a delinquency exists for 270 days
on an account.
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Loan Deferment
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An approved temporary suspension of loan payments based on certain events and criteria.
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Loan Delinquency
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The failure to make scheduled monthly loan payments when they are due.
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Loan Forbearance
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A temporary suspension of loan payments due to a financial hardship, during which
interest continues to accrue.
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Loan Grace Period
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The period (usually six months) after a student graduates, leaves school, or drops
below half-time enrollment and before student loan payments must begin.
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Loan Interest
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The rate, based on the total amount owed, that is associated with borrowing money.
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Loan Promissory Note
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A legal and binding contract signed between the lender and the borrower that states
that the borrower will repay the loan as agreed upon in the terms of the contract.
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Major
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The program of study in which students concentrate their coursework, time, and attention.
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Minor
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A subject of academic study requiring less intense specialization than a major.
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Open Admission
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Some colleges offer admission to all students who apply. Such colleges usually have
extensive programs designed to provide remedial or developmental help to students
who enroll with academic deficiencies.
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OSAC (Office of Student Access and Completion)
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The state agency in Oregon that oversees a growing number of scholarships and financial
aid programs.
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OUS (The Oregon University System)
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The state office that oversees Oregon's public 4-year colleges and universities:
EOU, OHSU, OIT, OSU, PSU, SOU, UO, and WOU.
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Direct PLUS Loan for Parents
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A federal student loan for parents who wish to borrow on behalf of their dependent
child. Loan funds come from the federal government, and repayment begins 60 days
after the loan funds are fully disbursed. A credit check is required to determine
eligibility.
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Private Loan
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A student loan offered by a private bank or credit union. Typically such loans have
more restrictive terms than federal student loans, including higher interest rates
and cosigners.
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Postsecondary
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After graduation from high school (secondary school). Colleges, universities, and
other institutions of higher education are often referred to as "postsecondary
institutions."
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Prerequisite
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A course required before taking another course ( i.e. French 101 would normally
be required before taking French 102).
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Proprietary Institution
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A for-profit school often specializing in technology-related fields or trades such
as beautician or barber.
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PSAT/NMSQT (Preliminary Scholastic Aptitude Test/National Merit Scholarship
Qualifying Test)
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The PSAT/NMSQT is a practice test designed to prepare high school juniors for the
SAT and is used in the awarding of National Merit Scholarships. Colleges do not
often use the PSAT scores as admission criteria.
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Public Institution
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A school that is tax supported. Tuition costs are less for students who live in
the same state as the school.
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Recommendation
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A written assessment of a student's aptitudes, abilities, and interests. Recommendations
are usually written by teachers, counselors or employers and are used by colleges
and universities in the admission process.
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Regular Decision
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A term that describes a traditional college application process in which an institution
reviews most of its applications prior to notifying the majority of its candidates.
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Rolling Admission
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A term that describes an application process in which an institution reviews applications
as they are received and offers decisions to students as applications are reviewed.
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SAT (Scholastic Aptitude Test)
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A standardized admission test used by college and university admission offices to
determine a student’s success in college, based on the student’s English, mathematics,
reading, and reasoning skills.
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Scholarship
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An award of financial aid that typically does not have to be paid back. A scholarship
is usually awarded to students who demonstrate or show promise of high achievement
in an area such as academics, athletics, or a special discipline.
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Servicer
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An entity that enters into a contract with a school or a lender, such as the US
Department of Education or a bank, to help it maintain loan records and student
accounts.
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Standardized Tests
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Tests such as the ACT and SAT that provide college admission officers with a comparative
standard for evaluating a student's academic aptitude and likelihood of successes
in college.
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Student Aid Report (SAR)
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The form a student receives from the US Department of Education after filing a FAFSA.
The SAR summarizes all the information the student provided on the FAFSA and notifies
the student of his/her eligibility for federal student aid. It usually contains
the student’s Expected Family Contribution (EFC). SARs are sent electronically to
students who file their FAFSAs online.
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Subsidized Loan
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A student loan awarded on the basis of financial need, which is determined by the
FAFSA. If you qualify for a subsidized loan, the federal government pays interest
on the loan (subsidizes the loan) until repayment begins and during authorized deferments.
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The College Board
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A non-profit organization, whose members include counselors, admission officers,
college faculty, and financial aid officers. They sponsor many tests, including
the SAT and Advanced Placement tests, education services, and materials connected
with the college admission process.
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Title IV Codes
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A postsecondary school code number used on the FAFSA. The applicant designates which
schools he or she is applying to for admission. These are different from the college
codes used for the SAT and ACT tests.
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TOEFL (Test of English as a Foreign Language)
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A test given worldwide by the Educational Testing Service to determine a student's
ability to function in an English-speaking classroom environment. The test is used
for undergraduate, as well as graduate, admission.
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Transcript
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The official record of a student's high school or college coursework and grades.
A transcript is usually required as part of the college admission process.
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Tuition
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The cost for attending classes at a college, university, or vocational school. Tuition
does not include room and board.
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Tutoring
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Assisting a student with some aspect of his or her schooling, such as mathematics
or language skills. Tutoring goes beyond the attention given to the student in a
regular classroom setting.
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Undergraduate Degrees
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Two-year (Associate's) or four-year (Bachelor's) degrees.
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Undergraduate Student
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A student who has not yet received a bachelor's degree.
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University
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An institution, which may be the same as a college, but that usually offers both
graduate and undergraduate degrees, as well as research facilities.
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Unsubsidized Loan
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A student loan for which the student is responsible for paying the interest that
accrues from the date the fund are disbursed to the date the loan is paid in full,
regardless of the student's enrollment status.
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Vocational/Technical Education
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A program of study designed to train students for a particular occupation, business,
or trade.
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Wait List
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A term used by institutions to describe a process in which the institution does
not initially offer or deny admission, but extends to a candidate the possibility
of admission in the future.
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Work Study
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A financial aid program that allows a student to work on-campus or with approved
off-campus employers to earn money to pay for college expenses. Federal Work-study
is funded by a federal grant to the school; the school funds campus work-study.
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