Scholarly Sources

FAFSA The Free Application for Federal Student Aid is the need analysis form all students must complete when applying for federal and state student aid. Some colleges use the FAFSA to award scholarships. The best way to file is online at StudentAid.gov.

FAFSA Submission Summary A summary of the data provided on the FAFSA form which allows the applicant to review the data for accuracy and if necessary, makes corrections or updates to the submitted FAFSA data.

Financial aid Money from state and federal governments, colleges, private organizations, associations and companies to help pay the costs of a college education or technical training.

Financial aid package Total financial aid a college offers a student. It may consist of several types of aid, including grants, scholarships, loans, work-study programs and others. Financial need, availability of funds, institutional aid policies and the number of students who need financial assistance all influence a student's financial aid package.

Financial need The difference between the cost of attendance and what a family can afford to pay, typically determined by a student's SAI.

Food and housing Lodging and food. For students living on campus, these costs are part of a dorm room and a meal plan. These costs are part of a student's total cost of attendance.

GPA A grade point average is the sum of the graded points earned (A=4, B=3, C=2, D=1, F=0) divided by the number of hours attempted for courses taken during a semester.

General Educational Development (GED) Classes that can lead to a high school equivalency diploma for adults who did not earn one. Recipients must pass four tests that assess their knowledge of language arts, social studies, science and math to earn the diploma.

Grace Period A set period of time after you graduate, leave school, or drop below half-time enrollment before you must begin repayment on your loan. To determine the length of your grace period, check your student loan promissory note.

Graduate student Student who has earned a bachelor's degree and is working toward a master's, doctorate or professional degree.

Grant Financial aid award, generally based on financial need, to help pay the cost of higher education. A grant generally does not have to be repaid.

IB The International Baccalaureate Program lets students earn college credit while in high school. Some schools require students to participate for two years, others allow them to take classes only one year.

Individual Learning Plan (ILP) A system to help high school students plan their courses and activities as they prepare for higher education and career.

Institutional aid Student financial aid administered by the college or proprietary trade school.

Interest A charge for a loan, usually a percentage of the amount borrowed.

Internship/practicum A program that provides the student with the opportunity to earn academic credits through a planned work experience, usually to learn about a specific career area.

Kentucky Educational Excellence Scholarship (KEES) A scholarship students can earn for their good grades and ACT or SAT score. No application required.

Kentucky Higher Education Assistance Authority (KHEAA) State agency that helps students plan and pay for college by providing financial aid programs and free materials and information.

Kentucky Higher Education Student Loan Corporation (KHESLC) A public, nonprofit corporation that provides education loans for students and parents.

Kentucky Occupational Skills Standards Assessment (KOSSA) An assessment system based on standards identified by employers across the state. All public high schools and technical schools must include these standards in their instructional programs.

Kentucky Online Testing (KYOTE) A program that measures whether a student is prepared for college-level learning.

Legacy scholarship A scholarship offered to family members of alumni of a college or university.

Loan Money borrowed to help pay higher education costs. Loans must be repaid with interest.

M Major Primary academic field of study in college.