A
Academic Success Plan (ASP): an academic roadmap required as part of the
Satisfactory Academic Progress (SAP) Appeal process to help a student come
back into compliance within three semesters.
Academic Year: the period in which a student attends an educational institution,
usually including the fall, spring, and summer semesters. Visit the
Registrar's Calendars webpage for more information on the academic calendars.
Aggregate Loan Limit: the
maximum amount of federal loans a student may borrow during particular levels
of their education.
Aid Year: school year for which financial aid is used to fund a student’s
education. Generally, this is the 12-month period that begins on July 1 of one
year and ends on June 30 of the following year.
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B
Billing Notification: an email sent to MIX accounts notifying students
of their outstanding balance for the semester and the due date for their charges.
This notification is only sent to students who owe a balance.
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C
Consortium: an agreement between a student’s home school and an external
host institution which officially acknowledges the enrollment, cost, and admissions
status of a degree-seeking students pursuing courses at the host institution. Visit
our
Transient Financial Aid webpage to learn more.
Contributor: anyone required to provide information on a student’s FAFSA.
This may include the student, student’s spouse, a biological or adopted parent,
and/or a parent’s spouse (stepparent). Visit our
Preparing for the FAFSA webpage
for more information.
Cost of Attendance: the estimated total amount it may cost a student to
pursue their degree for the fall and spring parts of the academic year (or for
each semester). It includes billable (direct) costs (costs the student would need
to pay WVU) and non billable (indirect) costs (other costs a student may have while
pursuing their education that are not charged by the institution). Visit our
Estimate Costs & Aid webpage to learn more.
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D
Degree-Pursuant Courses: courses prescribed by the course program of study.
Only degree-pursuant courses determine enrollment status and are eligible for Title
IV federal aid and WV state aid. Visit our
CPoS Definitions webpage to learn more.
Dependent Student: dependency status is determined by the criteria on
the Free Application for Federal Student Aid (FAFSA). A student who does not meet
any of the criteria for an independent student.
Direct Costs (Costs Payable to the School): include tuition, fees, housing,
and meals/food (for students living on campus), health insurance (if minimum insurance
coverage is not documented), or any other expenses paid to the school for enrollment.
Disbursement: the payment of funds through the school to the student’s
charges.
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E
Endorser/Cosigner: a person who agrees to take responsibility for repaying
a loan if the primary borrower cannot do so.
Enrollment: the number of credits the student is enrolled in, or whether
they have withdrawn, graduated, etc. Enrollment status affects eligibility for
and the amount of financial aid a student may receive. It also affects when student
loans enter repayment status.
Entrance Counseling:
entrance counseling is required for first-time student borrowers of subsidized
and unsubsidized loans and graduate PLUS loans. It ensures they understand the
terms and conditions of the loan and their rights and responsibilities. They’ll
learn what a loan is, how interest works, options for repayment, and how to avoid
delinquency and default.
Exit Counseling: student federal loan borrowers must complete
exit counseling
to ensure they understand their student loan obligations and are prepared for repayment
when they leave school or drop below half-time enrollment.
External Scholarships (private scholarships): scholarships that require
a separate application and come from private entities such as local businesses,
organizations, churches, etc.
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F
FAFSA Submission Summary (FSS): the document that summarizes the information
students reported on their FAFSA. It does not tell you how much aid you will receive,
but it does list if you may need to make corrections to your FAFSA or if you have
been selected for verification of data you provided on your FAFSA.
Federal Direct Graduate PLUS Loan: Direct Graduate PLUS Loans are federal
loans that graduate or professional students may use to help pay for education
expenses. A credit check is required for eligibility. Interest begins to accrue
when the loan is disbursed and can be paid while the student is enrolled or when
loan repayment begins. Visit our
Federal Direct Graduate PLUS Loan webpage to learn more.
Federal Direct Parent PLUS Loan: Direct Parent PLUS Loans are federal
loans that parents of dependent, undergraduate students can use to help pay for
education expenses. Parents must pass a credit check to qualify for PLUS loans.
Visit our
Federal Direct Parent PLUS Loan webpage to learn more.
Federal Direct Subsidized Loan: a financial need-based loan that offers
students a reduced, fixed interest rate and flexible repayment terms. Interest
is subsidized, meaning it does not accrue to the borrower, while in an in-school,
grace, or deferment period. Annual and aggregate limits apply. Visit our
Federal Direct Subsidized and Unsubsidized Loans webpage to learn more.
Federal Direct Unsubsidized Loan: a loan that offers students a fixed
interest rate and flexible repayment terms. It is not based on financial need.
Interest begins to accrue when the loan is disbursed and can be paid while the
student is enrolled or when loan repayment begins. Annual and aggregate limits
apply. Visit our
Federal Direct Subsidized and Unsubsidized Loans webpage to learn more.
Federal Loan Program
(Direct Loan Program): loans for students and parents borrow directly
from the U.S. Department of Education at participating schools. Federal student
loans include Direct Subsidized Loans, Direct Unsubsidized Loans, and the Direct
PLUS programs for parents of dependent students and graduate or professional students.
Federal Pell Grant: a federal grant program designed to assist undergraduate
students in low- and moderate-income households to pay for college. The grant amount
is based on the cost of the institution, Student Aid Index (SAI), and enrollment
status, and is subject to an aggregate limit. Visit the
Federal Pell Grant webpage to learn more.
Federal Aid: programs authorized under Title IV of the Higher Education
Act (as amended) that provide financial assistance to eligible students enrolled
in postsecondary educational programs. Visit the
Federal Student Aid website for more information on federal aid programs.
Federal Student Aid ID (FSA ID): the username and password for most federal
financial aid websites and the FAFSA. Visit our
Preparing for the FAFSA webpage to learn more.
Federal Supplemental Educational Opportunity Grant (FSEOG): first-come,
first-served limited funds program that may be offered to some eligible degree-seeking
undergraduate students who display exceptional financial need based on data provided
on the Free Application for Federal Student Aid (FAFSA). Visit our
FSEOG webpage to learn more.
Federal Teacher Assistance for College and Higher Education (TEACH) Grant:
a grant option for students pursuing certain programs of study within education.
Visit our
TEACH Grant webpage to learn more.
Federal Work-Study (FWS): a need-based employment program with limited
federal funds offered to eligible students on a first-come, first-served basis.
Students are offered FWS based on financial need, availability of FWS funds, and
job availability. Unlike grants and loans, FWS is paid directly to students as
they earn the funds by working. Visit our
Federal Work-Study webpage to learn more.
Financial Aid Offer: outlines the amounts and details of the financial
aid being offered to the student, which may include scholarships, grants, loans,
work-study, or other forms of financial assistance to pay for college expenses.
First Day Complete (FDC): a course materials fulfillment program through
Barnes & Noble to provide undergraduate students rented course materials at
a lower, flat-rate cost.
Free Application for Federal Student Aid (FAFSA): the application used
to determine how much financial aid you may be eligible to receive which could
include grants, scholarships, work-study, and loans. Complete the FAFSA online
via the
Federal Student Aid website.
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G
Gift Aid: financial aid that usually does not need to be repaid, such
as grants and scholarships.
Grants: grants are a type of gift aid which means they usually do not
have to be paid back (unlike loans which do need to be repaid). They are offered
based on financial need and/or academic merit. Visit our
Grants webpage to learn more.
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I
Independent Student: dependency status is determined by the criteria on
the Free Application for Federal Student Aid (FAFSA). A student who does not meet
any of the criteria for a dependent student.
Indirect Costs (Costs Paid to Others): other expenses not paid directly
to the school but associated with receiving an education. These expenses are estimated
by the school and may differ from student to student based on their individual
circumstances. These expenses may include books, course materials, supplies, equipment,
transportation and parking, personal expenses, childcare costs, computer costs,
disability expenses, licensure expenses and off-campus rent and food.
Institutional Loans: loan funds that are contributed by WVU alumni and friends through the WVU Foundation and are limited in availability. Eligibility is determined per donor agreements and is at the discretion of the appropriate officials. For more information on WVU institutional loans, please visit the Institutional Loans webpage.
Institutional Scholarships: scholarships offered by West Virginia University.
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L
Last-Dollar-In Programs: aid programs where the dollar amount is determined
by a student’s remaining aid eligibility after a calculation of certain billable
charges minus certain aid programs.
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M
Master Promissory Note (MPN): a legal document required for Federal Direct
Loan borrowers stating the borrower promises to repay the loan(s) and any accrued
interest and fees to the U.S. Department of Education. It also explains the terms
and conditions of the loan(s).
MIX email: MIX (or Mountaineer Information Exchange) is the official WVU
email account provided to all admitted and enrolled students.
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N
Need-based Aid: financial assistance provided to students based on their
financial situation, determined by completing the FAFSA. Need-based financial aid
can take different forms, including grants, scholarships, work-study programs,
and low-interest loans, like the Federal Direct Subsidized Loan.
Net Price: the difference between the cost of attendance and all grants
and scholarships. Net price reflects what the student is expected to pay for their
education on their own and can be covered through a variety of sources, including
savings, student employment, and tuition payment plans.
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O
Origination Fee: a processing fee retained by the U.S. government for
federal loans (Federal Subsidized, Unsubsidized, Parent PLUS, and Graduate PLUS
Loans). Visit our
Origination Fee webpage for more information.
Overaward: when a student is receiving more financial aid than federal
and/or state guidelines permit resulting in a necessary revision of their aid offer.
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P
Parent Proxy: the Parent/Guest Portal allows WVU students the ability
to grant proxy permissions to parents and other third-party guests for access to
certain records. This information includes financial aid details, grades, and class
schedules. This data is considered protected information that must be maintained
in a secure environment under the Family Educational Rights and Privacy Act (FERPA).
Pell Lifetime Eligibility Used (LEU): students cannot receive the grant
for more than 12 semesters of full-time enrollment or after completion of a bachelor's,
graduate, or professional degree. Learn more about
Pell LEU
on the
Federal Student Aid website.
Private Loan: a student or parent loan from a bank, credit union, private
company, a nonprofit or state-affiliated lender, or from the college or university
directly to pay for educational costs. Interest begins to accrue when the loan
is disbursed, and repayment begins while the student is still enrolled in school.
Visit our
Private Loans webpage to learn more.
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R
Refund: students are refunded for overpayments of financial aid or payments
greater than their institutional charges. Visit our
Refunds FAQs webpage to learn more.
Residency: a factor used to determine tuition rates and is based on the
legal, permanent place of residence for the student. Students may be classified
as in-state if they are residents of West Virginia or out-of-state if they are
residents of any other U.S. state or other country. Learn more at the
Residency Reclassification website.
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S
Satisfactory Academic Progress (SAP): students must maintain a level of
academic progress toward completing their degree or teacher certification to retain
eligibility for aid – including student loans, parent loans, work-study, and grants.
Visit our
Satisfactory Academic Progress (SAP) webpage to learn more.
Scholarship: a type of gift aid which means they usually do not have to
be paid back (unlike loans which do need to be repaid). They are offered based
on a variety of criteria such as academic merit, financial need, leadership, and
service.
State Aid: state aid is financial assistance that a state offers to eligible
residents to help reduce their educational costs. Visit our
State Grants and Scholarships webpage to learn more.
Student Aid Index (SAI): the eligibility index used to determine the student’s
eligibility for federal, and in some instances, state and institutional need-based
student financial aid. Generally, students with a higher SAI are eligible for less
need-based financial aid. It is based upon information the student and their family
provided on the FAFSA.
StudentForms: a secure platform where students can submit unsatisfied
requirements and appeals for financial aid. Visit our
StudentForms Account webpage to learn more.
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T
Tuition Payment Plan: West Virginia University offers a payment plan through
WVU MyAccount. This payment option allows to break up the semester’s tuition and
fees into smaller, more manageable installments, rather than paying in full all
at once. Visit our
Tuition Payment Plan webpage to learn more.
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V
Verification: the U.S. Department of Education requires schools participating
in federal student aid programs to verify information submitted on the Free Application
for Federal Student Aid (FAFSA) for students selected for verification. Verification
involves the review of tax documents and family size information for accuracy.
To complete verification, students and parents, as applicable, may be asked to
submit federal tax documentation, forms, and/or other additional documentation.
Visit our
Verification webpage to learn more.
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W
WVU MyAccount: the platform where students and
Authorized Users can review billing details, make payment, and enroll in a
payment plan. Visit our
Tutorials webpage for more information.
WVU Portal: the gateway to important online resources at WVU. It provides
access to systems such as MIX, WVU MyAccount, and financial aid information.
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