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Student Loan College Dictionary and Glossary Terms

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A B C D E F G H I J L M
N O P Q R S T U V W Y #
Early Action (EA)
A student applies to a school early in the senior year, between October 30 and January 15, and requests an early application review and notification of admission. The answer usually takes three to four weeks after application. If accepted, the student is not obligated to attend that institution but can bank this admission and still apply to other colleges during the regular admission cycle.
 
Early Admission
Some colleges will admit certain students who have not completed high school, usually exceptional juniors. The students are enrolled full-time and do not complete their senior year of high school. Colleges usually award high school diplomas to these students after they have completed a certain number of college-level courses.
 
Early Decision (ED)
Sometimes confused with Early Action, the Early Decision plan allows students to apply to an institution early in the senior year, also between October 30 and January 15, and request an early notification of admission. The student and guidance counselor sign a contract with the school at the time of application that indicates that if accepted, the student is obligated to attend that institution. Some colleges and universities offer both ED and EA options.
 
Elective
A non-required course that students may choose.
 
Emphasis
An area of concentration within a major or minor; for example, an English major may have an emphasis in creative writing.
 
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
An educational session that first time Stafford borrowers must fulfill before the loan's proceeds can be disbursed.  The Exit Counseling sessions provides these first time borrowers basic information about student loans and the terms and conditions of the Stafford Loan program.

Exit Counseling
An educational session that Stafford loan borrowers must fulfill around the time of graduate or separation from a college. The Exit Counseling session provides the borrower detailed information about the loans he/she borrower, the company that will collect the payment and the repayment alternatives that are available.
 
Expected Family Contribution, EFC
The Expected Family Contribution is the amount of financial support, determined by a formula, which indicates how much a family should contribute toward a child’s college education.  Elements of this formula include items such as taxable and non-taxable income, assets and benefits received (ie Social Security). This amount is part of the formula used by the federal government to determine financial aid eligibility using the FAFSA form.
 
External Degree Program
A program of study whereby a student can earn credit through independent study, college courses, proficiency examinations, distance learning, or personal experience. External degree colleges generally have no campus or classroom facilities. They are sometimes referred to as “colleges without walls.”
 
Exit Counseling, Exit Interview
Required counseling is provided to a student loan borrower about debt and accumulated indebtedness. Counseling is required before the student leaves school either due to competition of a program (graduation) or ceasing of enrollment (withdrawal or transfer).

 

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