Glossary

Average Debt: This number (displayed in the program detail pop-up under "About the Institution") is based on campus reports of the total federal and private student loans taken out by graduating seniors while they attended the institution. Prior borrowing by students who transfer is not included, meaning that actual debt may be higher, particularly at colleges that serve large numbers of transfer students. Actual debt may also be higher due to private student loans not handled by the campus financial aid office. This data was reported by the institutions in response to a questionnaire from the Peterson's Undergraduate Financial Aid and Undergraduate Databases. The Institute for College Access & Success, the sponsor of the Project on Student Debt, has licensed use of this data through an agreement with Peterson's. The data are copyright © 2009 Peterson's, a Nelnet company. All rights reserved.

Cost of Attendance: See "Student Budget"

Dependent Student: A dependent student is typically a traditional college student who enters college shortly after completing high school. For federal financial aid purposes, students are considered dependent if they have not obtained a bachelor's degree and are under 24 years old, unmarried, childless, and not a military veteran or former foster child. Financial aid policies generally expect one or more parents of a dependent student to contribute to the student's college expenses, depending on income.

EFC or Expected Family Contribution (EFC): The amount a family and student are estimated to be able to contribute toward college expenses, based on either a federal formula (known as Federal Methodology or FM) or an alternative formula (known as Institutional Methodology or IM). For dependent students, the EFC includes a "parent contribution" and a "student contribution." The amount depends on many factors and can be adjusted by financial aid administrators based on a student's special circumstances. For an example of how the federal formula works, sample EFCs for dependent students are listed below:

See Calculating the Net Cost of Attendance for more details on the specific situations on which these sample EFC figures are based. EFC will vary by state of residence; estimates here assume state of residence is unknown.

To determine an estimated EFC based on a specific family scenario, see the calculators available on colleges' websites and at the College Board website.

Enrollment: See Undergraduate Enrollment

Federal Methodology or FM: See EFC.

Financial Need: The amount of the cost of attendance not covered by the EFC.

Gift Aid: Financial aid that does not have to be repaid, such as grants and scholarships.

Institutional Methodology or IM: See EFC.

Parent Contribution: The portion of the EFC that comes from the parent's income and/or assets.

Pell-eligible: Students who qualify for a minimum Federal Pell Grant. These grants are generally designated for students from families with incomes of $40,000 or less, though some students with incomes as high as $60,000 (depending on the student's EFC) may be eligible.

Poverty Level, or Poverty Guideline: This is a federal measure, updated annually, of the amount of income that a family needs for basic survival. For a family of four in the contiguous 48 states, the poverty guideline was $21,200 in 2008, the year considered for 2009-10 financial aid.

More specifics on the federal poverty level are available here.

School Lunch Program: Some programs use eligibility for the federal free and reduced-price school lunch program as an indicator of a family's low-income status. Families with incomes below 185% of the poverty line are eligible for school lunch subsidies. Learn more about free and reduced-price lunch.

Self-help: The amount of a financial aid award that requires the student to earn or borrow. This may include an expectation of earnings during the summer, as well as loans and/or work-study during the school year.

Student Budget: Also known as the "cost of attendance," this is the total, as estimated by the college, of: tuition and required fees; room and board (rent and food); books and supplies; transportation; and miscellaneous personal expenses (including computer expenses). Institutions do not use consistent methods of estimating these amounts, but the U.S. Department of Education does issue guidelines for what campuses may include.

Student Contribution: The portion of the EFC that comes from the student's income and/or assets. Some colleges have a standard or minimum contribution that they expect from the student's summer earnings.

Undergraduate Enrollment: This number (displayed in the program detail pop-up under "About the Institution") is taken from the Department of Education's Integrated Postsecondary Education Data System (IPEDS) and represents the fall 2007 enrollment of undergraduates enrolled for credit.