- Advanced Placement (AP) Program: By taking AP classes, offered by high schools and sponsored and regulated by the College Board, you may earn college credits while in high school, thus lowering the overall cost of your college education or allowing you to take more advanced courses earlier in college.
- Academic Year: This is a measure of academic work to be accomplished by a student. A school defines its own academic year, but the federal statute and regulations set minimum standards to determine financial aid awards. The academic year must be at least 30 weeks of instructional time in which a full-time student is expected to complete at least 24 semester or trimester credit hours, 36 quarter credit hours, or 900 clock hours.
- Associate Degree: You can earn an associate degree in two years at Junior and Community colleges in Florida or other states.
- Award Letter: An official document issued by a school's financial aid office listing all the financial aid awards given to the student. The award letter includes information about the cost of attendance, terms and conditions of their financial aid.
- Annual Percentage Rate/APR: The total annual cost of a loan, including all fees and interest.
- Aid Package: The combination of financial aid (loans, scholarships, grants, loans, work study) determined by the financial aid office of a college or university.
- Bachelor’s Degree: You may earn a bachelor’s degree at a four-year college or university in Florida. The Bachelor of Arts (BA), Bachelors of Science (BS) are the most standard bachelor degree designations.
- Borrower: Anyone who obtains money from a lender. The borrower signs a promissory note, which serves as the formal promise to repay the loan.
- Campus-based aid: Financial aid programs administered by the University. The federal government provides each University with a fixed annual allocation that is awarded by the financial aid administrator to students.
- Consolidation: Combining several loans from multiple lenders into a single loan to reduce the monthly payment and/or increase the repayment period for their student loan.
- Default: Failure to repay a loan in accordance with the terms of the promissory note. Default can also occur if students fail to submit requests for deferments or discharges (cancellations) in a timely manner.
- Dependent Student: You are a dependent student if you are an undergraduate and your parents provide more than half of your financial support. You must be under twenty-four years of age, unmarried, and without your own dependents.
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