- Expected Family Contribution (EFC): The amount a student and the student’s spouse or family are expected to pay toward the student’s cost of attendance.
- Financial Aid: Financial Assistance including scholarships, grants, work-study, and loans for education.
- Free Application for Federal Student Aid (FAFSA): The form the student must complete to apply for federal Title IV financial assistance, including Federal Stafford Loans.
- Federal Family Education Loan Program (FFELP): The Federal Family Education Loan Program offers Federal subsidized and unsubsidized Stafford, PLUS, SLS and Consolidation loans. These loan programs are funded by specific lenders, guaranteed by Guarantors, and reinsured by the federal government.
- Federal Work-Study (FWS): This is a campus-based aid program which is funded by the federal government and administered by colleges, which award funds to students to work part-time jobs to help cover college costs. Students usually work on campus for the college, in community service-oriented jobs, or in positions related to their course of study.
- Grants: Need based aid is awarded in the form of grants, which do not need to be repaid. The federal government offers the most grant aid; state of Florida and individual colleges and universities also offer significant support through grants.
- Guaranty Agency: A state agency or private, nonprofit institution or organization that administers the financial aid programs within the Federal Family Education Loan (FFEL) Program. One major function is to insure Federal Family Education Loans.
- Grace Period: Specified period of time between the date a student graduates or drops below half-time status. After the grace period is completed a date is determined to start repayment of your loan(s).
- Halftime: the school determines Half-time enrollment that you are attending. Please check with your registrar’s office to verify criteria for half-time enrollment. A student must attend school at least halftime to qualify for financial aid through FFELP or FDLP loans.
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