Glossary of Terms
 

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National College Fair: A free program that allow students to interact with admission representatives from a wide range of post secondary institutions to discuss course offerings, admission and financial aid requirements, college life in general, and other information pertinent to the college selection process. National College Fairs are held in the spring and in the fall each year.

 
Need: The Expected Family Contribution (EFC) subtracted from the Cost of Attendance (COA)
 
Needs Analysis: How much a student or a student's family can afford to pay towards the student's college education, as determined by the financial resources reported on the FAFSA form.
 
 
Need-based Aid : The cost of education compared to a student's (or a student's family's) ability to meet those costs.
 
Need-blind Admissions: An admissions policy in which the ability or inability to pay college costs is not considered when determining a student's eligibility for admission
 
Net Income: This is income after taxes, deductions, and allowances have been subtracted.
 
Non-portable Funding: College funding that can't be transferred to another college or university. For example, many colleges have scholarship funds that are specific to that particular college. If a student leaves or transfers, the money remains at that school.
 
Notice of Guarantee & Disclosure Statement : Information about the actual cost of the loan, including the interest rate, origination, insurance, loan fees and any other types of finance charges. Lenders are required to provide a disclosure statement before issuing a loan.
 
 

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