ABCs of College Terminology
Accepted/Offer of Admission — The institution has offered the applicant an invitation to join the incoming freshman class. They have a spot at that college.
ACT — College admissions test offered by ACT. Contains sections on English, reading, math, and natural science, and is scored as an average of the 4 sections up to a 36.
Application Fee — Fee required to submit an application. Usually waived with free or reduced lunch status.
Binding — Contractual agreement that if a student is accepted to a certain school, they will attend the school. Most common in early decision agreements.
Cost of Admission — The estimated “sticker price” of the college before discounts, aid, and student-specific expenses are applied
CSS Profile — Financial aid application processed by the College Board that is more comprehensive than the FAFSA. It is only required by some colleges.
Deferred — The institution has reviewed the application, but has decided to wait for further review before they make a decision. They may need updated test scores, fall semester grades, or are missing part of the application.
Demonstrated Interest — When colleges factor student interest into admissions decisions. Student interest is shown by attending school events, opting for optional interviews, applying early, etc.
Denied — The institution did not offer the applicant a spot in their class.
Deposit — Money required by a school to hold a place in the class, usually due by May 1.
Direct Costs — Costs paid directly to the university in tuition and fees. These will not vary per person.
Domicile — State residence determined by student and parent residence and official state documents. The student may need to apply for this if applying to a public, in-state institution
Early Action — Non-binding early application deadline. Applications submitted by this date will be read first and decisions will come out sooner than regular decision applications. The student can apply to multiple schools early action if not otherwise specified.
Early Decision — Binding early application deadline. If an applicant gets in early decision, they are required to attend the college, and are expected to waive all other applications to other institutions.
EFC — Expected Family Contribution — This is the number the FAFSA comes up with as what the family is theoretically able to pay based on number of dependents, assets, parental age, and other factors.
FAFSA — Free Application for Federal Student Aid — aid application required to receive any federal aid, like loans and grants, and many scholarships. Requires tax information and figures out the “Expected Family Contribution”
Financial Need — The difference between the college’s cost of attendance and the student’s EFC or amount they expect to have on-hand for college.
For-Profit College — Colleges operated by businesses for a profit. They tend to have little to no aid and have higher loan default rates than similar programs at community or 4 year colleges.
Indirect Costs — Costs of living at the college, including food, clothing, travel, and books. These vary per person.
In-State — A public college and student are “in-state” when the student lives in the same state as a public school. In-state students receive discounted tuition as a resident of the state, provided they can give proof of residence.
“Likely” or “Safety” School — A college in which the average GPA and/or SAT scores are lower than the student’s scores. The chance of acceptance and receiving merit aid is high.
“Match” School — A college in which the average GPA and test scores match the student’s academic profile. This is a good academic match, and the student is a competitive applicant.
Merit-Based Aid — Aid based on academic achievement, not determined by the FAFSA.
Need-Based Aid — Aid based on financial need, as determined by the FAFSA.
Need-Blind Admission — Applications are reviewed without consideration of applicant’s financial status or ability to pay for college.
Out-of-State — A student or public college is out of state when the student does not reside in the same state as the public college. Tuition for the out of state student is much higher than a resident of the state would pay.
Private School — A college supported primarily by tuition money. Tuition is the same regardless of student residence.
Public School — A college supported by state tax money. Gives tuition discounts to residents of the state.
Regular Decision — Regular application date (and often the last day a college will accept applications)
“Reach” School — A college in which the average GPA and/or SAT scores are higher than a student’s scores. The chance of acceptance is low, but not impossible.
Rolling Decisions — Application setup in which there are no application deadlines, rather applications are reviewed as they are submitted and acceptances are given out until a class is full.
SAT — College admissions test offered by the College Board. Contains sections on English/reading and math, and is scored out of 800 on each section (for a composite total of up to 1600)
Single-Choice Early Action — Non-binding early application deadline that an applicant can only choose for certain schools. If they select a single-choice early action, they cannot apply early action to any other school, but the decision is not binding.
Subsidized Loan — Federal loan in which the government pays interest while the student is enrolled in school. Requires the FAFSA and income limits to qualify.
Transfer Agreement — An agreement between community colleges and 4 year institutions in which a student can gain acceptance to the 4 year college by completing their 2 year degree with a certain GPA.
Unsubsidized Loan — Federal loan that accrues interest immediately once taken out. Requires the FAFSA, but is available to anyone who needs it.
Verification — Possible result of the FAFSA when more information is required, such as tax transcripts or marriage/death certificates.
Waitlist — Admission status given to students who are not fully accepted to a college, but are not denied. They are not accepted to the college until the college knows how many people accepted an offer of admission, and may not receive an acceptance at all.
