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This is considered Other Financial Assistance (OFA), which is also known as scholarships, departmental awards, tuition assistance, military tuition assistance, employee waivers (including ERAU employees and dependents), employer reimbursement, third-party contracts, sponsored billing, vocational rehab (excluding Ch. 31-35), etc.

The academic year starts on July 1 and ends on June 30. The academic year starts on August 25 and ends on May 1. The academic year must have a minimum of 30 weeks of instructional time and 24 semester hours.

• Undergraduate students: Academic year is defined as 36 weeks of instructional time; 24 credit hours for the academic year is considered full-time
• Graduate students: Academic year is defined as 36 weeks of instructional time; 12 credit hours is considered full-time for the academic year

All taxable income less IRS allowable adjustments to income. This figure is drawn from an individual's federal tax return. The rules for calculating AGI are set by the IRS, not the U.S. Department of Education.

A one-stop shop Student Service Center to see your class schedule, account balance, financial aid and documents needed for services, and academic history — all from one location by logging into your student account ().

Any individual required to provide consent and approval for federal tax information (FTI) along with their signature on the FAFSA, including the student; the student’s spouse; a biological or adoptive parent; or the parent’s spouse (stepparent).

The estimated full and reasonable cost of completing an academic year as a full-time student and is the maximum amount of aid that can be received. It includes tuition, fees, housing, food, transportation, miscellaneous personal expenses, books, course materials, supplies and federal student loan fees.

Department of Defense Form 214. It is the form received at separation that certifies a veteran's service.

The failure to repay a loan as outlined in your promissory note. Most federal student loan default occurs when a payment isn’t made in more than 270 days. It can result in legal consequences and a loss of eligibility for additional federal student aid.

A temporary postponement of payment on a loan that is allowed under certain conditions and during which interest doesn’t accrue on subsidized loans. Most deferments are not automatic. Contact the lender for options. Visit the website for more.

The status of a loan when payment is late. Delinquency may be reported to a credit bureau after 30 days.

The lender's payment of loan funds to the school. Payment is made by electronic funds transfer (EFT). Disbursement is usually made in two or more installments during the year.

A mandatory online information session, which takes place before you receive your first federal student loan; entrance counseling explains your responsibilities and rights as a student borrower.

A mandatory online information session, which takes place before you graduate, leave school (for any reason) or drop below half-time enrollment. It explains your loan repayment responsibilities and when repayments begin.

Replaces the Central Processing System (CPS) to become an integral part of the entire FAFSA process and experience.

Summarizes the information entered on your FAFSA form and provides your calculated Student Aid Index, which the Financial Aid uses to determine Financial Aid eligibility.

This is issued by the Financial Aid Office. It lists all of the amounts, sources and types of aid in your financial aid package. The Financial Aid Offer also includes the terms and conditions of your financial aid.

Worldwide Campus Students Only

Worldwide adheres to Federal Regulations by ensuring that Financial Aid is not paid for overlapping terms/payment periods. Worldwide offers distinct courses of enrollment to its students. These unique attendance patterns are called Tracks.

Undergraduate and Master’s Students:

• Track 1: July Term - September Term - November Term - February Term (Online Track Only With 9-Week Terms)
• Track 1 allows students to enroll in classes offered online only and receive financial aid. Students electing to be on Track 1 will not be able to use other modalities of learning such as Classroom, EagleVision Class or EagleVision Home, as these modalities are not offered on this Track.
• Track 2: August Term - October Term - January Term- March Term (Blended Track With 9-Week Terms)
• Track 2 allows students to take advantage of all modalities of learning and receive financial aid: Online, Classroom, EagleVision Class and EagleVision Home. Students may register for any modality of learning on Track 2.

Doctoral (PhD) Students:

• Doctoral Track: September Term - January Term - May Term
• Doctoral Track (12-Week Terms): The program is offered to online students pursuing a Doctoral program.

Allows you to temporarily stop making your monthly student loan payments or temporarily make smaller payments. Most types of forbearance are not automatic. Visit the Federal Student Loan Forbearance website for more.

A period of time (generally six months) after you graduate or drop below half-time enrollment during which you are not required to make payments. The repayment period for your loan begins after the end of the grace period.

An electronic output document generated by the FAFSA Processing System (FPS) that summarizes information provided on a student's FAFSA. Also provides the result of the Student Aid Index (SAI) calculation, results of eligibility matches with certain databases, reject reasons, comments and data assumptions. It is available to schools through the Electronic Data Exchange (EDE).

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) at a school. It lists the terms and conditions under which you agree to repay the loan and explains your rights and responsibilities as a borrower. It’s important to read and save your MPN because you’ll need to refer to it later when you begin repaying your loan or at other times when you need information about loan provisions, such as deferments or forbearances

This electronic notification is sent to students' Embry-Riddle email accounts and details any missing information that the Financial Aid Office requires in order to complete the federal awarding process (i.e., verification documents, federal tax returns, W-2 Forms, proof of citizenship or eligible noncitizen status, DD214 Member 4 Copy, etc.).

An ED integrated system that collects and reports information about the financial aid history of students who receive federal student aid and maintains that information in an online database available to the financial aid community. The database stores information about loans, grants, students, borrowers, lenders, guaranty agencies (GAs), schools and loan servicers. The FAFSA Processing System (FPS) conducts a match of FAFSA data against this database to confirm the student’s identification and eligibility for federal student financial aid. A user ID and Password are required to access the database.

The difference between the Cost of Attendance (COA) and the Student Aid Index (SAI) is the student's financial need. Gift assistance (free money such as scholarships, grants, etc.) fulfills financial need. If a gap remains between the student’s financial need and the offered gift assistance, the student should continue to look for additional funding options. This may include part-time student employment, external scholarships or student and parent loans.

Amount of direct and indirect costs remaining after all gift aid (scholarships, tuition assistance and grants) is subtracted.

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.

When a school creates a new Pell Grant or Direct Loan in the Common Origination and Disbursement (COD) system.

A fee charged by the federal government and deducted from the loan funds prior to disbursement. The fee is used to offset administrative costs.

The process of determining the types and amounts of financial aid awards (loans, grants, scholarships and employment) and offering those awards to a student.

The discretion granted to Financial Aid Administrators (FAA) by law to adjust the data used to calculate the Student Aid Index (SAI) on the FAFSA, revise the student’s cost of attendance (COA) and override a student’s dependency status when adequate documentation is provided. See Special Circumstances and Unusual Circumstances.

When a student withdraws or ceases to attend school without completing a payment period or period of enrollment, the school must determine the amount of Title IV funds "earned" for the portion of the payment period or period of enrollment the student attended. Unearned federal student aid must be returned to each affected program, as applicable.

For purposes of regaining eligibility for federal student aid funds, the agreement of a borrower to make six consecutive, voluntary, on-time, full monthly payments on a defaulted Title IV loan. A borrower may regain eligibility by this means only one time. For the purpose of consolidating a defaulted loan into a Direct Consolidation Loan, the making of three consecutive, voluntary, on-time, full monthly payments on a defaulted loan, or agreeing to repay the consolidation loan under an income-contingent repayment plan or an income-based repayment plan.

Replaces the Expected Family Contribution (EFC) as a formal evaluation of a student’s approximate financial resources to contribute toward their postsecondary education for a specific award year.

Income earned from wages, salaries and tips, as well as interest income, dividend income, business or farm profits and rental or property income.

Federal student aid programs are authorized under the Title IV of the Higher Education Act of 1965, as amended. Programs include the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work-Study (FWS), Student Direct Loans and Parent Direct PLUS Loans.

Income received that is not reported to the Internal Revenue Service (IRS) or is reported but excluded from taxation. Such income would include but not be limited to untaxed capital gains, interest on tax-free bonds, dividend exclusion and military and other subsistence and living allowances.

The process a school follows to check the accuracy of the information reported by the student on the FAFSA. The information reported is compared against documents, such as the IRS Tax Return Transcripts and signed Verification Worksheets, the student provides to the school.

Programs administered by state departments of vocational rehabilitation services to assist individuals who have a physical or mental disability that is a substantial handicap to employment.