This article was originally written for FirstGenerationStudent.com, now a part of ImFirst.org.

1040/1040A/1040EZ

Also known as a tax return, these are federal forms from the Internal Revenue Service (IRS) that taxpayers fill out every year and file with the IRS as a statement of their income and personal circumstances to assess tax liability. These forms are needed to fill out the Free Application for Federal Student Aid (FAFSA).

Alien Registration Number (A-Number)

A unique seven-, eight- or nine-digit number assigned to a noncitizen at the time his or her A-File is created. The nine-digit U.S. Citizenship and Immigration Services number listed on the front of the Permanent Resident Cards (known sometimes as “Green Cards”) issued after May 10, 2010 is the same as the Alien Registration Number.

Source: United States Citizen and Immigration Services

Consumer Financial Protection Bureau (CFPB)

The CFPB is a government agency whose mission is to make markets for financial products and services work for Americans—whether they are applying for a student loan, mortgage, choosing among credit cards, or using any number of other consumer products.

Source: Consumer Financial Protection Bureau

Cost of Attendance (COA)

The total cost to attend a college or university, usually for an academic year. Colleges and universities define the component parts of COA, and it will vary depending on a student’s situation. Usually it is an estimate of tuition and fees, room and board, books and supplies, transportation, and personal expenses. This is the budget that federal financial aid eligibility is based on.

CSS/Financial Aid PROFILE

The PROFILE is an online application by the College Board that collects financial information used by certain colleges and scholarship programs to award institutional aid funds. It is NOT used to determine federal awards—for that, you will need to fill out the Free Application for Federal Student Aid (FAFSA). Check with your college or university to make sure you need to fill out this application. Often, you have to pay to have this application processed.

Source: The College Board

Demographic Information

Information based on certain population characteristics such as age, gender, race or income.

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 being homeless.

Source: Federal Student Aid

DREAM Act

Also known as the Development, Relief and Education for Minors Act, DREAM is proposed bipartisan legislation that would create a path to legal immigration status for undocumented immigrants born outside the United States who were brought here illegally as children. Qualifying undocumented youth would be eligible for a six-year-long conditional path to citizenship that requires completion of a college degree or two years of military service. Though the federal DREAM Act has not passed, a few states have laws that provide in-state tuition to undocumented students who meet certain eligibility requirements. In general these state laws are often referred to as the DREAM Act.

Source: DreamAct.info

Educational Opportunity Centers (EOC)

A federal program that provides counseling and information on college admissions to qualified adults who want to enter or continue a program of post-secondary education. An important objective of the program is to counsel participants on financial aid options, including basic financial planning skills, and to assist in the application process.

Source: U.S. Department of Education

Eligible Non-citizen

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 Green 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 holder; Parolee (You must have been paroled in the United States at least one year, and you must be able to provide evidence from 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.)

Source: Federal Student Aid

Expected Family Contribution (EFC)

This is the number that’s used to determine your eligibility for federal student financial aid. This number results from the financial information you provide on the Free Application for Federal Student Aid (FAFSA).

Source: Federal Student Aid

Federal Student Aid PIN

Your electronic personal 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 PIN, you can request one online at www.pin.ed.gov.

Source: Federal Student Aid

Federal Direct Parent PLUS Loan

A loan that is available to parents of dependent undergraduate students for which the borrower—in this case the parent—is responsible for paying all interest and principle. Interest will begin to accrue on these loans once they are disbursed.

Source: Federal Student Aid

Federal Direct Stafford Subsidized Loans

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 Stafford Subsidized Loans (also known as 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 capitalize—it will be added to the loan’s principle balance.

Source: Federal Student Aid

Federal Direct Stafford Unsubsidized Loans

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.

Source: Federal Student Aid

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.

Source: Federal Student Aid

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. If you are awarded work-study, make sure you check with your financial aid office to understand which jobs will qualify.

Source: Federal Student Aid

Financial Aid

Financial aid is a general term used to describe the financial help a student receives to defray the costs of attending college. Financial aid can consist of grants, scholarships, loans, work-study and even tax credits. Aid can come from organizations, your college, your state, and/or the federal government.

Financial Aid Award/Offer/Package

The total amount of financial aid (federal and non-federal) 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 education costs. This package can include grants, scholarships and loans.

Source: Federal Student Aid

Financial Aid Office

The office at a college that is responsible for preparing and communicating information on financial aid. This office helps students apply for and receive student loans, grants, scholarships and other types of financial aid.

Source: Federal Student Aid

For-Profit Colleges and Universities

Colleges and universities that, unlike their public and nonprofit counterparts, are managed and governed by private organizations and corporations.

Source: National Conference of State Legislatures

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.

Source: Federal Student Aid

Gift Aid

Financial aid that you do not have to pay back. Gift aid can include grants and/or scholarships from a variety of places, including federal and state governments, your college, and outside organizations.

Grants

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

Source: Federal Student Aid

Higher Education Tax Credits and Deductions

A tax benefit given by states and/or the federal government for spending money on certain things such as college tuition and expenses. There are three federal credits: The American Opportunity Credit, the Hope Credit, and the Lifetime Learning Credit. There are two federal deductions: Tuition and Fees Deduction and Student Loan Interest Deduction.

Source: Internal Revenue Service

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, or an emancipated minor or someone who is homeless or at risk of becoming homeless.

Source: Federal Student Aid

In-State Tuition

The tuition you pay to attend a public college or university in the state where you are a citizen.

Institutional Aid

Financial aid that is given to you from your college, usually in the form of grants and scholarships.

Interest Rate

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

Source: Federal Student Aid

IRS Data Retrieval Tool

Also known as the IRS DRT, this tool is a link that appears on the FAFSA website to help you fill out both yours and your family’s tax information. It takes you to the IRS website where you fill in some questions, and then it links up to the FAFSA and fills in much of the application.

Loan

Financial aid you borrow to pay for college and related expenses. Loans can come from federal or state governments, or private lenders. You must pay student loans back, including interest.

Loan 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.

Source: Federal Student Aid

Loan Repayment

No matter if you graduate or not, you must repay your loans. Make sure you understand the terms and conditions because each loan is different. Federal loans qualify for different repayment plans. The federal standard repayment is one payment per month for 10 years (120 payments), but there is also a graduated repayment (starts with low payments which increase over 10 years), and income-based repayment (IBR), which is based on your income. You also may combine your various loans into a consolidated loan, which will change the terms of repayment.

Merit-Based Aid

Financial aid that is based on a student’s skills or abilities. Example: A merit-based scholarship might be awarded based on a student’s high grades.

Source: Federal Student Aid

Need-Based Aid

Financial aid that is based on a student’s financial need. For example, if the student is considered low income as determined by the income information provided on the FAFSA.

Source: Federal Student Aid

Net Price

An estimate of 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.

Source: Federal Student Aid

Out-of-State Tuition

If you attend a public college or university outside the state where you are a resident, then, most often, you will need to pay a higher tuition rate known as out-of-state tuition.

Pell Grant

A federal grant for undergraduate students who demonstrate financial need.

Source: Federal Student Aid

Perkins Loans

A federal student loan, made by the recipient’s school, for undergraduate and graduate students who demonstrate financial need.

Source: Federal Student Aid

Permanent Resident Card

Also known as a Green Card, this permit grants non-U.S. citizens the right to live and work in the United States on a permanent basis.

Source: U.S. Citizenship and Immigration Services

Private Colleges and Universities

Colleges and universities that are nonprofit and are managed and administered by an internal board of trustees.

Private Loan

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

Source: Federal Student Aid

Public College and Universities

Colleges and universities that receive funding from the state and that are managed and administered by a public board of trustees.

Scholarships

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

Source: Federal Student Aid

Self-Help Aid

Financial aid that the student is responsible for earning or repaying. For example, self-help aid includes work-study and loans.

Social Security Number (SSN)

A number in the format of XXX-XX-XXXX, unique for each individual. In financial aid it is often used for identification purposes.

Sticker Price

Also known as list price, the sticker price is the listed tuition and fees (or sometimes the Cost of Attendance) for a college. Oftentimes you will pay less than this price. See net price.

Student Aid Report (SAR)

A summary of the information you submitted on your 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’s used to determine your eligibility for federal student aid.

Source: Federal Student Aid

U.S. Citizen

Individuals born in the United States, Puerto Rico, Guam, Northern Mariana Islands, Virgin Islands, America Samoa, or Swain’s Island. Foreign-born children, under the age of 18, residing in the U.S. with their birth or adoptive parents, at least one of whom is a U.S. citizen by birth or naturalization. Also, individuals granted citizenship status by Immigration and Naturalization Services (INS).

Source: U.S. Citizenship and Immigration Services

Unaccompanied, Homeless Youth

Youth who are unaccompanied by a parent or guardian and are homeless, self-supporting and at-risk of homelessness at any time during the school year in which they sign the FAFSA.

Source: Loyola University New Orleans

Undocumented

A person who is residing in the U.S. without the permission of the U.S. government. Undocumented immigrants enter the U.S. either illegally, without being inspected by an immigration officer or by using false documents, or legally, with a temporary visa and then remain in the U.S. after the visa has expired.

Source: The Leadership Conference

W-2

A federal form provided by employers that is a statement of an employee’s total earnings, Social Security earnings, Medicare earnings, and federal and state tax withholding. In most cases, you will need this to fill out the FAFSA.