Glossary

A

Academic Year

The time period in which you are expected to complete a certain amount of academic work. For example, UT Dallas’ academic year is made up of a fall and spring semester, during which a full-time undergraduate student is expected to complete at least 24 semester credit hours over the course of 32 weeks of instructional time. Academic years may differ from school to school and even from educational program to educational program at the same school.

For purposes of the Teacher Loan Forgiveness Program, an academic year is defined as one complete school year at the same school, or two complete and consecutive half years at different schools, or two complete and consecutive half years from different school years (at either the same school or different schools). Half years exclude summer sessions and generally fall within a 12-month period. For schools that have a year-round program of instruction, nine months is considered an academic year.

Adjusted Gross Income (AGI)

Your or your family’s wages, salaries, interest, dividends, etc., minus certain deductions from income as reported on a federal income tax return.

Adverse Credit History

A credit history is a summary of your financial strength, including your history of paying bills and your ability to repay future loans. To qualify for a PLUS loan, you cannot have an adverse credit history. Your credit history may be considered adverse if you are experiencing any of the following credit conditions:

• Bankruptcy discharge within the past five years
• Voluntary surrender of personal property to avoid repossession within the last five years
• Repossession of collateral within the last five years
• Foreclosure proceedings started
• Foreclosure within the last five years
• Conveying your real property that is subject to a mortgage (by deed) to your lender to avoid foreclosure (deed in lieu of foreclosure)
• Accounts currently 90 days or more delinquent
  • Unpaid collection accounts
  • Charge-offs/write-offs of federal student loans
• Wage garnishment within the last five years
• Defaulting on a loan, even if the claim has been paid
• Lease or contract terminated by default
• County/state/federal tax lien within the past five years

Agreement to Serve (ATS)

The binding agreement you must sign to receive a TEACH Grant. By signing the ATS, you agree to teach (1) full-time (2) in a high-need field (3) at a low-income school or educational service agency that serves certain low-income schools, and (4) for at least four complete academic years within eight years after completing (or ceasing enrollment in) the course of study for which you received the grant. If you do not complete your teaching service agreement, the amounts of the TEACH Grants you received will be converted to a Direct Unsubsidized Loan that you must repay with interest charges from the date of each TEACH Grant disbursement.

Appeal (Satisfactory of Academic Progress)

Students who have extenuating circumstances may appeal a financial aid suspension by submitting a Satisfactory Academic Progress Appeal to the Office of Financial Aid. Appeal forms are available on the forms page. The Financial Aid Appeals Committee will review the petition and will contact the student when a decision has been made. The decision of the Financial Aid Appeals Committee is final.

Approved Drug Rehabilitation Program

A drug rehabilitation program that is:

1. qualified to receive funds from a federal, state or local government or from a federally or state-licensed insurance company; or
2. administered or recognized by a federal, state or local government agency or court, or a federally or state-licensed hospital, health clinic or medical doctor.

Associate Degree

An undergraduate academic degree granted after completion of two years of study. Community colleges and career colleges generally award associate degrees.

Award Letter

An offer from a college or career school that states the type(s) and amount(s) of financial aid the school is willing to provide if you accept admission and register to take classes at least halftime at UT Dallas.  The award letter is no longer referenced as such and is now called an offer letter.

Award Year

The academic year for which financial aid is used to fund your education.

B

Bachelor’s Degree

An undergraduate academic degree awarded for a course of study that generally lasts four years. Colleges or universities generally award bachelor’s degrees.

Bankruptcy

When a person is declared bankrupt, he is found to be legally insolvent and his property is distributed among his creditors or otherwise administered to satisfy the interests of his creditors. Federal student loans, however, cannot be discharged through bankruptcy.

Bursar’s Office

The university office that is responsible for the billing and collection of university charges.

 

C

Cancellation [of a Loan]

The release of the borrower’s obligation to repay all or a designated portion of principal and interest on a student loan. Also called discharge or forgiveness of a loan.

Capitalization

The addition of unpaid interest to the principal balance of a loan. When the interest is not paid as it accrues during periods of in-school status, the grace period, deferment or forbearance, your lender may capitalize the interest. This increases the outstanding principal amount due on the loan and may cause your monthly payment amount to increase. Interest is then charged on that higher principal balance, increasing the overall cost of the loan.

Collection Agency

An entity that recovers unpaid debt from borrowers who have defaulted on their loans.

Collection Costs

Expenses charged on defaulted federal student loans that are added to the outstanding principal balance of the loan. These expenses can be up to 18.5 percent of the principal and interest for defaulted Direct Loans or FFEL Program loans and may exceed 18.5 percent for defaulted Federal Perkins Loans and Health and Human Service (HHS) loans.

Common-law Marriage

A marriage relationship made by agreement and by living together without a marriage license. Not all states allow common-law marriages and the elements required for a common-law marriage change from state to state.

Consolidation

The process of combining one or more loans into a single new loan.

Consolidation Loan

Also called Loan Consolidation, a consolidation loan combines several student loans into one bigger loan from a single lender. The consolidation loan is like a refinance and is used to pay off the balances on the other loans. The primary intention is to replace multiple loans with a single “consolidated” loan to simplify repayment. For federal student loans, a consolidation loan can also provide access to alternate repayment terms and the ability to lock in a rate on older variable rate student loans. For private student loans, a consolidation loan can also offer the opportunity to get a better interest rate or release a cosigner if the borrower’s credit score has improved significantly.

Cosigner

A cosigner on a loan assumes responsibility for the loan if the borrower should fail to repay it.

Cost of Attendance (COA)

The estimated total amount it will cost you to go to school, usually stated as a yearly figure , that is used in that financial aid eligibility determination. COA includes tuition and fees;  housing and food allowance; and allowances for books, supplies, transportation, loan fees, and dependent care. It also includes miscellaneous and personal expenses, including an allowance for the rental or purchase of a personal computer (one time allowance); costs related to a disability; and reasonable costs for eligible study-abroad programs. For students attending less than half-time, the COA includes tuition and fees and an allowance for books, supplies, transportation, and dependent care expenses, and can also include housing and food for up to three semesters or the equivalent at the institution. But no more than two of those semesters, or the equivalent, may be consecutive. Contact your financial aid counselor if you have any unusual expenses that might affect your COA.

Credit Bureau

An organization that tracks and reports your credit, including your history of paying bills and calculates your ability to repay future loans. For example, if you default on a student loan, it is reported to a credit bureau, and other lenders may be less likely to extend credit to you in the future.

Custodial Parent

If a student’s parents are divorced or separated, the custodial parent is the one with whom the student lived the most during the past 12 months. The student’s need analysis is based on financial information supplied by the custodial parent.

D

Data Release Number (DRN)

The four-digit number assigned to your FAFSA that allows you to release your FAFSA data to schools you did not list on your original FAFSA. You need this number if you contact the Federal Student Aid Information Center to make corrections to your mailing address or the schools you listed on your FAFSA. You find this number below the confirmation number on your FAFSA submission confirmation page or in the top right-hand corner of your Student Aid Report (SAR).

Data Retrieval Tool (DRT)

The IRS Data Retrieval Tool allows applicants who have already filed their federal income tax returns to prefill the answers to some questions on the Free Application for Federal Student Aid (FAFSA) by transferring data from their federal income tax returns. This can save the family some time in completing the FAFSA. It may also reduce the likelihood that your FAFSA will be selected for verification.

Default

Failure to repay a loan according to the terms agreed to in the promissory note. For most federal student loans, you will default if you have not made a payment in more than 270 days. You may experience serious legal consequences if you default.

Default Rate

The percentage of borrowers who fail to repay their loans according to the terms of their promissory notes.

Deferment

A postponement of payment on a loan that is allowed under certain conditions and during which interest does not accrue on Subsidized Federal Stafford Loans, and Federal Perkins Loans. All other federal student loans that are deferred will continue to accrue interest. Any unpaid interest that accrued during the deferment period may be added to the principal balance (capitalized) of the loan(s).

Delinquent

A loan is delinquent when loan payments are not received by the due dates. A loan remains delinquent until the borrower makes up the missed payment(s) through payment, deferment, or forbearance. If the borrower is unable to make payments, he or she should contact his or her loan servicer to discuss options to keep the loan in good standing.

Dependency Status

The determination of a Free Application for Federal Student Aid (FAFSA) applicant as dependent or independent.

Dependent Student

A student who does not meet any of the criteria for an independent student. An independent student is one of the following: at least 24 years old, married, a graduate or professional student, a veteran, a member of the armed forces, an orphan, a ward of the court, someone with legal dependents other than a spouse, an emancipated minor or someone who is homeless or at risk of becoming homeless.

Direct Consolidation Loan

A federal loan made by the U.S. Department of Education that allows you to combine one or more federal student loans into one new loan. As a result of consolidation, you will only have to make one monthly payment on your federal loans and the amount of time you have to repay your loan will be extended.

Direct Loan

A federal student loan, made through the William D. Ford Federal Direct Loan Program, for which eligible students and parents borrow directly from the U.S. Department of Education at participating schools. Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans and Direct Consolidation Loans are types of Direct Loans.

Direct PLUS Loan

A loan made by the U.S. Department of Education to graduate or professional students and parents of dependent undergraduate students for which the borrower is fully responsible for paying the interest regardless of the loan status.

Disbursement (disburse or disbursed)

Payment of aid funds to the student/borrower by the school. Students generally receive their financial aid funds in two or more disbursements.

Discharge

The release of a borrower from the obligation to repay his or her loan.

Disclosure Statement

Provides the borrower with 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 the borrower with a disclosure statement before issuing a loan.

E

Educational Service Agency

An educational service agency is a regional public multiservice agency (not a private organization) that is authorized by state law to develop, manage, and provide services or programs to local education agencies, such as public school districts. See THECB.

Elementary School or Secondary School

For the purposes of the Teacher Loan Forgiveness Program, an elementary or secondary school is defined as a public school or nonprofit private school that provides elementary education or secondary education as determined by state law (or by the U.S. Department of Education if the school is not in a state).

Eligible Noncitizen

A U.S. national (includes natives of American Samoa or Swains Island), U.S. permanent resident (who has an I-151, I-551 or I-551C [Permanent Resident Card]), or an individual who has an Arrival-Departure Record (I-94) from U.S. Citizenship and Immigration Services (USCIS) showing one of the following designations:

• “Refugee”
• “Asylum Granted”
• “Cuban-Haitian Entrant (Status Pending)”
• “Conditional Entrant” (valid only if issued before April 1, 1980)
• Victims of human trafficking, T-visa (T-2, T-3, or T-4, etc.) holder
• “Parolee” (You must be paroled into the United States for at least one year and you must be able to provide evidence from the USCIS that you are in the United States for other than a temporary purpose and that you intend to become a U.S. citizen or permanent resident.)

If you meet the eligible noncitizen criteria above, you are eligible to receive federal student aid. If you are unsure of your eligibility, please check with your financial aid counselor for more information.

Eligible Program

A program of organized instruction or study of a certain length that leads to an academic, professional, or vocational degree or certificate, or other recognized education credential.

Emancipated Minor

An individual (under the age of 18) who has legally been determined to be an adult by a court in his or her state of legal residence.

Endorser

An endorser is someone who does not have an adverse credit history and agrees to repay the loan if the borrower does not repay it.

Enrollment Status

An indication of whether you are a full-time or part-time student. Generally you must be enrolled at least half-time (and in some cases full-time) to qualify for financial aid.

Entrance Counseling

A mandatory information session which takes place before you receive your first federal student loan that explains your responsibilities and rights as a student borrower.

Exit Counseling

A mandatory information session which takes place when you graduate or attend school less than half-time that explains your loan repayment responsibilities and when repayment begins.

Expected Family Contribution (EFC)

This is the number that is used to determine your eligibility for federal student financial aid. This number results from the financial information you provide in your FAFSA the application for federal student aid. Your EFC is reported to you on your Student Aid Report (SAR).

F

FAFSA

See Free Application for Federal Student Aid (FAFSA).

FAFSA4caster

An online tool that provides an early estimate of your federal student aid eligibility to help you financially plan for college.

Federal Pell Grant

A federal grant for undergraduate students with financial need .

Federal Perkins Loan

A federal student loan, made by the recipient’s school, for undergraduate and graduate students who demonstrate financial need.  There are no new Federal Perkins loans as the program was discontinued several years ago, but there still are students and former students who have past Perkins loans.

Federal School Code

An identifier that the U.S. Department of Education assigns to each college that participates in the federal student aid programs. In order to send your FAFSA information to a school, you must list the school’s Federal School Code on your application. UT Dallas’ school code is 009741.

Federal Student Aid ID (FSA ID)

Your electronic identification number that serves as your identifier to allow access to personal information in various U.S. Department of Education systems and acts as your digital signature on some online forms. If you do not already have a FSA ID, you can request one online at https://studentaid.gov/

Federal Student Aid Programs

The programs authorized under Title IV of the Higher Education Act of 1965 that provide grants, loans and work-study funds from the federal government to eligible students enrolled in college or career school.

Federal Student Loan

A loan funded by the federal government to help pay for your education. A federal student loan is borrowed money you must repay with interest.

Federal Supplemental Educational Opportunity Grant (SEOG)

The SEOG is a federal grant program for undergraduate students with exceptional need. Federal Pell Grant recipients receive priority.

Federal Work-Study

A federal student aid program that provides part-time employment while you are enrolled in school to help pay your education expenses.

Financial Aid Package

The total amount of financial aid (federal and nonfederal) a student is offered by a college or career school. The school’s financial aid staff combines various forms of aid into a “package” to help meet a student’s COA.

Financial Need

The difference between the cost of attendance (COA) and your Expected Family Contribution (EFC). This is used to determine your eligibility for need based aid programs.

Forbearance

A period during which your monthly loan payments are temporarily suspended or reduced. Your lender may grant you a forbearance if you are willing but unable to make loan payments due to certain types of financial hardships. During forbearance, principal payments are postponed but interest continues to accrue. Unpaid interest that accrues during the forbearance will be added to the principal balance (capitalized) of your loan(s), increasing the total amount you owe.

Forgiveness

Loan forgiveness releases the borrower from his or her obligation to repay the loan, usually due to circumstances within the borrower’s control. The most common loan forgiveness programs cancel all or part of the debt for working in a particular field or performing military or volunteer service. Loan forgiveness for working in a particular occupation is tax-free, while other types of loan forgiveness may result in a tax liability. There are two main types of loan forgiveness: up front and back end. Up front loan forgiveness cancels a portion of the debt for each year of service. Back end loan forgiveness cancels any remaining debt after a specified number of years of service. Both discharge and forgiveness are types of loan cancellation. See also public service loan forgiveness.

Foster Care

A temporary living arrangement for dependent children when their parent(s) or another relative cannot take care of them.

Free Application for Federal Student Aid (FAFSA)

The FREE application used to apply for federal student aid, such as federal grants, loans, and work-study. All citizens and eligible non-citizens may apply at https://studentaid.gov/

Full-time Employment as a Teacher

For the purposes of the Teacher Loan Forgiveness Program, full-time employment as a teacher is determined by the state’s standard. For a borrower teaching in more than one school, the determination of full-time is based on the combination of all qualifying employment.

G

General Educational Development (GED) Certificate

A certificate that students receive if they have passed a specific, approved high school equivalency test. Students with a GED certificate are eligible to receive federal student aid.

Gift Aid

Gift aid is financial aid, such as grants and scholarships, that does not need to be repaid.

Grace Period

A period of time after borrowers graduate, leave school, or drop below half-time enrollment where they are not required to make payments on certain federal student loans. Some federal student loans will accrue interest during the grace period, and if the interest is unpaid, it will be added to the principal balance of the loan when the repayment period begins.

Grade Point Average

The GPA is an average of a student’s grades converted to a 4.0 scale. For specific information on the Undergraduate Academic Policy, please visit the Undergraduate Catalog

Graduation Rate

Measures the progress of students who began their studies as full-time, first-time degree- or certificate-seeking students by showing the percentage of these students who complete their degree or certificate within a 150% of “normal time” for completing the program in which they are enrolled.

Grant

Financial aid, often based on financial need, that does not need to be repaid (unless, for example, you withdraw from school and owe a refund).

H

Homeless

An individual is considered homeless if he or she lacks fixed, regular and adequate housing. You may be homeless if you are living in a shelter, park, motel or car, or temporarily living with other people because you have nowhere else to go. Also, if you are living in any of these situations and fleeing an abusive parent you may be considered homeless when completing your FAFSA even if your parent would provide support and a place to live.

Homeschool

A school in which children are educated at home either by parents, legal guardians, or tutors, rather than traditional public or private school.

I

Income-Based Repayment (IBR)

Under an income-based repayment schedule, the size of the monthly payments depends on the income earned by the borrower. As the borrower’s income increases, so do the payments. The income-based repayment plan is not available for PLUS Loans. Income-based repayment is available in both the FFEL and Direct Loan programs. Monthly payments are capped at 15% of discretionary income, where discretionary income is defined as the amount by which income exceeds 150% of the poverty line.

Income Contingent Repayment (ICR)

Under an income contingent repayment schedule, the size of the monthly payments depends on the income earned by the borrower. As the borrower’s income increases, so do the payments. The income contingent repayment plan is not available for PLUS Loans. Income contingent repayment is available only in the Direct Loan program. Monthly payments are capped at 20% of discretionary income, where discretionary income is defined as the amount by which income exceeds 100% of the poverty line. Income Contingent Repayment also has a secondary cap based on income percentage factors that rarely applies to most borrowers.

Independent Student

An independent student is one of the following: at least 24 years old, married, a graduate or professional student, a veteran, a member of the armed forces, an orphan, a ward of the court, or someone with legal dependents other than a spouse, an emancipated minor or someone who is homeless or at risk of becoming homeless.

Interest

A loan expense charged for the use of borrowed money. Interest is paid by a borrower to a lender. The expense is calculated as a percentage of the unpaid principal amount of the loan.

Interest Rate

The percentage at which interest is calculated on your loan(s).

J

Job Placement Rate

The percentage of graduating students who obtained employment either in the recognized occupation for which they were trained or in a related comparable recognized occupation within a determined timeframe after receiving their degree or certificate.

Judgment Lien

Gives a creditor the legal right to keep a home or property when the owner fails to pay a debt. A judgment lien can only be granted by a court when a creditor takes a debtor to court for failing to pay a debt and the debtor loses. A student (or parent in the case of a parent borrower) will not qualify for federal student aid if he or she owns property that is subject to a judgment lien for a debt owed to the United States.

K

L

Legal Guardianship

A relationship created by court order, through which the court appoints an individual other than a minor’s parent to take care of the minor. A legal guardian is not considered a parent on the student’s FAFSA. In fact, a student in legal guardianship does not need to report parent information on the FAFSA because he or she is considered an independent student.

Lender

The organization that made the loan initially; the lender could be the borrower’s school; a bank, credit union, or other lending institution; or the U.S. Department of Education.

Lifetime Eligibility Used (LEU)

The amount of all Federal Pell Grant aid (in percentage) awarded to you divided by the amount of Pell Grant aid you would have been eligible to receive based on full-time enrollment. The amount of Federal Pell Grant funds a student may receive over his or her lifetime is limited by federal law to be the equivalent of six years of Pell Grant funding.

Loan Forgiveness

See Forgiveness.

Loan Holder

The entity that holds the loan promissory note and has the right to collect from the borrower.

Loan Rehabilitation

The process of bringing a loan out of default and removing the default notation from a borrower’s credit report. To rehabilitate a Direct or a FFEL Loan, the borrower must make at least 9 full payments of an agreed amount within 20 days of their monthly due dates over a 10-month period. To rehabilitate a Perkins Loan, a borrower must make nine on-time, consecutive monthly payments of an agreed-upon amount. Rehabilitation terms and conditions vary for other loan types and can be obtained directly from loan holders.

Loan Servicer

A company that collects payments on a loan, responds to customer service inquiries, and performs other administrative tasks associated with maintaining a loan on behalf of a lender. If you are unsure who services your federal student loan, you can look it up on https://studentaid.gov/

M

Master Promissory Note

A binding legal document that you must sign when you get a federal student loan. The MPN can be used to make one or more loans for one or more academic years (up to 10 years). It lists the terms and conditions under which you agree to repay the loan and explains your rights and responsibilities as a borrower. It is important to read and save your MPN because you will need to refer to it later when you begin repaying your loan or at other times when you need information about provisions of the loan, such as deferment or forbearance.

Maturity Date

The date when a loan comes due and must be repaid in full.

Merit-based

The date when a loan comes due and must be repaid in full.

N

Need

The difference between the COA and the EFC is the student’s financial need — the gap between the cost of attending the school and the student’s resources. The financial aid package is based on the amount of financial need. The process of determining a student’s need is known as need analysis.

Need-based Aid

Based on a student’s financial need. In order to be initially eligible for any need based awards you must have need as determined above.

Net Price

An estimate of the actual cost that a student and his family need to pay in a given year to cover education expenses for the student to attend a particular school. Net price is determined by taking the institution’s cost of attendance and subtracting any grants and scholarships for which the student may be eligible.

Net Price Calculator

A tool that allows current and prospective students, families, and other consumers to estimate the net price of attending a particular college or career school.

New Borrower

You are a new borrower if you had no outstanding balance on a Direct Loan Program Loan or a Federal Family Education Loan Program loan as of Oct. 1, 2007, or have no outstanding balance on such a loan on the date you receive a new loan after Oct. 1, 2007.

O

Offer Letter

An offer from a college or career school that states the type(s) and amount(s) of financial aid the school is willing to provide if you accept admission and register to take classes at least halftime at UT Dallas.  The award letter is no longer referenced as such and is now called an offer letter.

Out-of-state Student [Non-resident]

A student who is attending a college outside of his or her state of legal residence.

Origination Fee

Fee paid to the bank to compensate them for the cost of administering the loan. The origination fees are charged as the loan is disbursed, and typically run to 3% of the amount disbursed. A portion of this fee is paid to the federal government to offset the administrative costs of the loan.

Other Resource

Aid or benefits available because a student is in school and is counted after need is determined. Outside scholarships, prepaid tuition plans and VA educational benefits are examples of outside resources.

P

Partial Financial Hardship

An eligibility requirement for the Income-Based Repayment (IBR) and Pay As You Earn plans.

For IBR, a circumstance in which the annual amount due on your eligible loans, as calculated under a 10-year Standard Repayment Plan, exceeds 15 percent of the difference between your adjusted gross income (AGI) and 150 percent of the poverty line for your family size in the state where you live.

For Pay As You Earn, a circumstance in which the annual amount due on your eligible loans, as calculated under a 10-year Standard Repayment Plan, exceeds 10 percent of the difference between your adjusted gross income (AGI) and 150 percent of the poverty line for your family size in the state where you live.

For both plans, the amount that would be due under a 10-year Standard Repayment Plan is calculated based on the greater of the amount owed on your eligible loans when you originally entered repayment, or the amount owed at the time you selected the IBR or Pay As You Earn plan.

PLUS Loan

A loan available to graduate students and parents of dependent undergraduate students for which the borrower is fully responsible for paying the interest regardless of the loan status.

Post-baccalaureate Teacher Certification Program

A program for students who have already earned a bachelor’s degree that (1) does not lead to a graduate degree, (2) is treated as an undergraduate program, and (3) consists of courses required by a state in order for the student to receive a certification or license to teach in an elementary or secondary school in that state.

Principal

The total sum of money borrowed plus any interest that has been capitalized.

Private Loan

A nonfederal loan made by a lender such as a bank, credit union, state agency, or school.

Professional Judgment

For need-based federal aid programs, the financial aid administrator can adjust the EFC, adjust the COA, or change the dependency status (with documentation) when extenuating circumstances exist. For example, if a parent becomes unemployed, disabled or deceased, the FAA can decide to use estimated income information for the award year instead of the actual income figures from the base year. This delegation of authority from the federal government to the financial aid administrator is called Professional Judgment (PJ).

Promissory Note

The binding legal document that you must sign when you get a federal student loan. It lists the terms and conditions under which you agree to repay the loan and explains your rights and responsibilities as a borrower. It is important to read and save this document because you will need to refer to it later when you begin repaying your loan or at other times when you need information about provisions of the loan, such as deferment or forbearance.

Q

R

Regular Student

A student who is enrolled or accepted for enrollment at an institution for the purpose of obtaining a degree, certificate, or other recognized education credential offered by that institution. To be eligible for federal student aid, you must generally be a regular student.

Repayment Schedule

The repayment schedule discloses the monthly payment, interest rate, total repayment obligation, payment due dates and the term of the loan.

Retention Rate

Measures the percentage of first-time students who are seeking bachelor’s degrees who return to the institution to continue their studies the following fall.

Room and Board

An allowance for the cost of housing and food while attending college or career school.

S

Satisfactory Academic Progress (SAP)

A school’s standards for satisfactory academic progress toward a degree or certificate offered by that institution. For more information see our policy.

Scholarship

Money awarded to students based on academic or other achievements to help pay for education expenses. Scholarships generally do not have to be repaid.

Selective Service

Registration for the military draft. Male students who are US citizens and have reached the age of 18 and were born after December 31, 1959 must be registered with Selective Service to be eligible for federal financial aid. If the student did not register and is past the age of doing so (18-25), and the school determines that the failure to register was knowingly and willful, the student is ineligible for all federal student financial aid programs. The school’s decision as to whether the failure to register was willful is not subject to appeal. Students needing help resolving problems concerning their Selective Service registration should call 1-847-688-6888.

Short Term Loan

The short-term loan is a payment plan that The University of Texas at Dallas offers to students enrolled in a full-term session for tuition and course-related fees. This payment plan will protect your classes from being dropped for non-payment. The short-term loan payment plan will only cover tuition and course-related fees. For more information, visit the Bursar’s Office.

Service Obligation

The teaching service requirement set out in the Agreement to Serve (ATS) that you must sign to receive a TEACH Grant. By signing the ATS, you agree to teach (1) full-time (2) in a high-need field (3) at a low-income school or educational service agency that serves certain low-income schools, and (4) for at least four complete academic years within eight years after completing (or ceasing enrollment in) the course of study for which you received the grant. If you do not complete your teaching service agreement, the amounts of the TEACH Grants you received will be converted to a Direct Unsubsidized Loan that you must repay with interest charges from the date of each TEACH Grant disbursement.

State Aid

Financial aid provided by the State of Texas for resident students.

Student Aid.Gov

A federal site where you can apply for financial aid with the FAFSA, complete entrance and exit counseling, and review information about your financial aid.  Information and processes that used to be accessed at NDLSD, FAFSA.ED.GOV and PIN.ED>GOV can be found here.  It can be accessed at  https://studentaid.gov/

Student Aid Report (SAR)

A summary of the information you submitted on your Free Application for Federal Student Aid (FAFSA). You receive this report (often called the SAR) via e-mail a few days after your FAFSA has been processed or by mail within 7-10 days if you did not provide an e-mail address. If there are no corrections or additional information you must provide, the SAR will contain your EFC, which is the number that is used to determine your eligibility for federal student aid.

Subsidized Loan

A loan based on financial need for which the federal government pays the interest that accrues while the borrower is in an in-school, grace, or deferment status. For Direct Subsidized Loans first disbursed between July 1, 2012, and July 1, 2014, the borrower will be responsible for paying any interest that accrues during the grace period. If the interest is not paid during the grace period, the interest will be added to the loan’s principal balance.

T

Teacher Education Assistance for College and Higher Education (TEACH) Grant

A federal grant that provides up to $4,000 per year to students who agree to teach for four years at an elementary school, secondary school, or educational service agency that serves students from low-income families and to meet other requirements. If the service obligation is not met, the grant is converted to a Direct Unsubsidized Loan.

U

Unsubsidized Loan

A loan for which the borrower is fully responsible for paying the interest regardless of the loan status. Interest on unsubsidized loans accrues from the date of disbursement and continues throughout the life of the loan.

V

Verification

The process UT Dallas uses to confirm that the data reported on your FAFSA is accurate. Will receive an email, at your UT Dallas email, requesting this documentation. Additionally, you can see what items are outstanding by Checking Your Status.

W

William D. Ford Federal Direct Loan Program

The federal program that provides loans to eligible student and parent borrowers under Title IV of the Higher Education Act. Funds are provided by the federal government to eligible borrowers through participating schools.

Work-Study

A federal student aid program that provides part-time employment while you are enrolled in school to help pay your education expenses.

X

Y

Z

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