nchelp program regulations committee glossary of initials ... · nchelp program regulations...

NCHELP Program Regulations Committee Glossary of Initials and Acronyms Revised March 12, 2012

Acronym Name Description

AA Associate of Arts Degree A 2-year undergraduate academic degree in the arts.

AAC&U Association of American Colleges and Universities

A national association working to advance and strengthen undergraduate liberal education for all college students. (www.aacu-edu.org)

AACC American Association of Community Colleges An advocacy organization for the nation’s community colleges. (www.aacc.nche.edu)

AACRAO American Association of Collegiate Registrars and Admissions Officers

A nonprofit, voluntary, professional association of higher education admissions and registration professionals. (www.aacrao.org)

AAI Adjusted Available Income The portion of family income remaining after deducting federal, state, and local taxes, a living allowance, and other factors used in the Federal Need Analysis Methodology.

AAMC Association of American Medical Colleges

A nonprofit association which has as its purpose the improvement of the health of all through the advancement of medical schools and teaching hospitals. (www.aamc.org)

AASCU American Association of State Colleges and Universities

AASCU represents nearly 420 public colleges, universities, and systems of higher education throughout the United States and its territories. (www.aascu.org)

AAU Association of American Universities

A nonprofit organization founded to further issues of importance to research-intensive universities. (www.aau.edu)

ACA Administrative Cost Allowance Allowance that is intended to offset a school's cost in administering the Federal Pell Grant Program, the Direct Loan Program, and campus-based program.

ACD Automated Call Distribution A system that automatically answers incoming phone calls and intelligently routes these calls using a computerized phone system and software.

ACE American Council on Education The major coordinating body for all of the nation’s higher education institutions which provides leadership and a unifying voice on key higher education issues. (www.acenet.edu)

ACES Access Certificates for Electronic Services

The purpose of ACES is to facilitate public access to the services offered by governmental agencies. (www.aces.orc.com )

ACG Academic Competitiveness Grant Program

A federal assistance grant program reserved for college students with the greatest need for financial aid that was available from the 2006 - 2007 award year through the 2010 – 2011 award year.

ACH Automated Clearing House ACH is an electronic network for financial transactions.

ACT American College Testing An independent, nonprofit organization that provides assessment, research, information, and program management solutions in the areas of educational assessment and workforce development. (www.act.org)

AES American Education Services Designated guarantor for Pennsylvania, Delaware, and West Virginia. See also PHEAA – Pennsylvania Higher Education Assistance Agency. (www.aesSuccess.org or www.pheaa.org)

AFDC Aid to Families with Dependent Children Former name for Temporary Assistance for Needy Families. See TANF.

AG Attorney General The chief law enforcement officer for the U.S. and head of the Department of Justice.

AGD Anticipated Graduation Date The date on which a student is expected to complete an academic program. This date is provided by a school official when certifying the borrower’s loan application, and in subsequent enrollment status updates.

AGI Adjusted Gross Income An individual’s total income, reduced by certain deductions known as “adjustments”. AI Available Income Take home pay after taxes.

1

http://www.aacu-edu.org/

http://www.aacc.nche.edu/

http://www.aacrao.org/

http://www.aamc.org/

http://www.aascu.org/

http://www.aau.edu/

http://www.acenet.edu/

http://www.aces.orc.com/

http://www.act.org/

http://www.aessuccess.org/

http://www.pheaa.org/



ALAS Auxiliary Loans to Assist Students The original name for what later became the Supplemental Loans for Students (SLS).

AMF Account Maintenance Fee A fee paid to guarantors by ED that is based on the amount of outstanding loans at the beginning of the federal fiscal year.

ANN Announcement Dear Colleague Letter

An ED communication that explains and clarifies the Department’s guidance regarding federal regulations and statutes. Also known as a Dear Partner Letter (DPL). (http://ifap.ed.gov/ifap/byYear.jsp?type=dpcletters)

APA Asset Protection Allowance A modest allowance for basic living expenses used in determining a student's financial aid. APC Adjusted Parents' Contribution Part of the expected family contribution (EFC) for a dependent student, along with the student contribution.

APLU Association of Public and Land-Grant Universities

A voluntary association of public universities, land grant institutions and many of the nation’s public university systems, dedicated to supporting excellence in teaching research, and public service. Formerly known as the National Association of State Universities and Land Grant Colleges (NASULGC) (www.aplu.org)

APSCU Association of Private Sector Colleges and Universities

An association that represents private career college education and training. Formerly known has CCA (Career College Association). (www.career.org)

ARRA American Recovery & Reinvestment Act of 2009

Commonly referred to as the Stimulus or The Recovery Act. An economic stimulus package enacted by Congress in February 2009.

ASA American Student Assistance Designated guarantor for Massachusetts and the District of Columbia. (www.amsa.org)

ASL Accreditation and State Liaison Division within ED’s Office of Postsecondary Education responsible for the accrediting agency recognition process and coordinating ED and state activities that impact institutional participation in the federal student assistance programs.

ASLP America’s Student Loan Provider’s ASLP represented the nation’s leading providers of higher education funding . (www.studentloanfacts.org)

ASP Active Server Page This is a specification for a Web page that is dynamically created by the Web server and contains both HTML and scripting code.

ATB Ability to Benefit Basis on which a student without a high school diploma, recognized equivalent, or General Education Diploma (GED) may qualify for federal student financial assistance.

ATI Allowance Against Total Income Used in calculating expected family contribution (EFC).

ATS Agreement to Serve Document that must be signed each year by a TEACH Grant recipient that explains the service obligation, conditions under which the TEACH Grant may be converted to a Direct Unsubsidized Loan,and describes the repayment terms and conditions that apply if the TEACH Grant is converted to a loan.

AWG Administrative Wage Garnishment

Process by which a guarantor may attach a portion of the wages of a defaulted Federal Family Education Loan Program (FFELP) borrower without first obtaining a legal judgment.

AY Academic Year A period that begins on the first day of classes and ends on the last day of classes or examinations. AZ Automatic Zero EFC A student meeting certain financial conditions allows the student's expected family contribution to be zero. BA Bachelor of Arts Degree A 4-year undergraduate academic degree in the arts.

BBAY Borrower-Based Academic Year

An academic year that is individualized per borrower and generally “floats” with the borrower’s enrollment and progress.

BCG Blanket Certificate of Guaranty A process authorized under the Higher Education Act that permitted lenders to disburse FFELP loans prior to 2

http://ifap.ed.gov/ifap/byYear.jsp?type=dpcletters

http://www.aplu.org/

http://www.career.org/

http://www.amsa.org/

http://www.studentloanfacts.org/



obtaining the guarantor’s approval.

BIA Bureau of Indian Affairs An organizational unit within the Department of Interior that is responsible for improving the lives and trust assets of American Indians, Indian Tribes, and Alaska natives though services and relationships. (www.bia.gov)

BITS Banking Industry Technology Secretariat

The technology policy division of The Financial Services Roundtable, the goal of which is to foster the growth and development of electronic financial services and e-commerce for the benefit of financial institutions and their customers. (www.bitsinfor.org)

BLS Bureau of Labor Statistics An organizational unit within the Department of Labor that is the principal fact-finding agency for the federal government in the broad field of labor economics and statistics. (www.stats,bls.gov)

BPOS Bulk Publication Ordering System Now known as FSAPubs.

BS Bachelor of Science Degree 4-year undergraduate academic degree in the sciences.

BSC Borrower Services and Collections

Section of Federal Student Aid that receives subrogated loans from guarantors and the Direct Lending program and is responsible for the collection of these loans. (http://www2.ed.gov/offices/OSFAP/DCS/index.html)

CA Certificate Authority Related to digital signatures; generates and issues certificates for a given domain.

CAI Contribution from Available Income Used in calculating expected family contribution (EFC).

CAM Common Account Maintenance

Developed and maintained by the Standards and Operations Committee (formerly known as the Electronics and Standards Committee (ESC)) of the National Council of Higher Education Loan Programs (NCHELP), it is an event-driven, transaction-based reporting process for lenders, servicers, and guaranty agencies that facilitates the exchange of loan-, disbursement-, and person-level information in a standardized electronic format.

CAN College Access Network Designated guarantor for Colorado. Formerly known as CSLP (Colorado Student Loan Program), now known as College Assist. (www.college-assist.net)

CAPS Collection Automated Processing System Software system used by ED’s Debt Collection Service (DCS) unit.

CB Campus-Bases Dear Colleague Letter


CBA Consumer Bankers Association Trade association representing retail banking. Provides representation on issues such as privacy, fair lending, and consumer protection legislation/regulation. (www.cbanet.org)

CBT Computer-Based Training A synonym for e-learning. A form of electronically supported learning and teaching.

CBO Congressional Budget Office The federal agency responsible for determining the cost of legislative changes to federal programs. (www.cbp.gov)

CCA Career College Association An association that represented private career college education and training. Now known as APSCU (Association of Private Sector Colleges and Universities).

CCI Common Claim Initiative A standard method for lenders and guarantors to use in the default prevention and claim filing process.

CCPLFP Child Care Providers Loan Forgiveness Program

A program intended to bring more highly trained individuals into the early child care profession and to retain those providers for longer periods of time. Program finding is contingent upon the availability of annual

3

http://www.bia.gov/

http://www.bitsinfor.org/

http://www2.ed.gov/offices/OSFAP/DCS/index.html

http://www.college-assist.net/


http://www.cbanet.org/

http://www.cbp.gov/



appropriations.

CCRAA College Cost Reduction and Access Act of 2007

A budget reconciliation bill signed into law in September 2007 that made significant changes to federal financial aid programs.

CDR Cohort Default Rate Percentage of a school's borrowers who enter repayment on certain FFFLP or Direct Loan Program loans during a particular federal fiscal year (FY), October 1 to September 30, and default or meet other specified conditions prior to the end of a prescribed period.

CEEB College Entrance Examination Board

A national nonprofit membership association whose mission is to provide students with a path to college opportunities. (www.collegeboard.com)

CEO Chief Executive Officer Highest-ranking corporate officer in charge of the total management of an organization.

CFDA Catalog of Federal Domestic Assistance

Government-wide compendium of Federal programs, projects, services, and activities that provide assistance or benefits to the American public. It contains financial and nonfinancial assistance programs administered by departments and establishments of the Federal government. (https://www.cfda.gov)

CFO Chief Fiscal or Financial Officer Corporate officer primarily responsible for managing the financial risks of the corporation.

CFR Code of Federal Regulations The collection of federal regulations promulgated by the U.S. government. ED’s regulations are codified in Volume 34.

CIP Classification of Instructional Program

The purpose of CIP is to provide a taxonomic scheme that will support the accurate tracking, assessment, and reporting of fields of study and program completions activity. (http://nces.ed.gov/pubs2002/cip2000/)

CL CommonLine

Developed and maintained by the Electronic Standards Committee (ESC) of the National Council of Higher Education Loan Programs (NCHELP). CommonLine was a standardized format and delivery process for the exchange of origination and disbursement and change transaction data between schools and their federal and private student loan service providers.

CM Common Manual Unified student loan policy manual produced, published, and maintained by guarantors through the Common Manual Governing Board. (www.commonmanual.org )

CM Congressional Methodology Standard formula used to evaluate parents’ income and assets, in conjunction with the number of children in the family who are college-aged and their anticipated college costs; helps determine the Expected Family Contribution (EFC) figure and the student’s eligibility for financial aid

CMGB Common Manual Governing Board

A group of individuals comprised of a representative from each of the participating FFELP guarantors who approve new policy language to the Common Manual that incorporates new terms and conditions and loan administration procedures resulting from changes that occurred through legislation, federal regulations, and guarantor policies.

CMOS Case Management and Oversight Former name of School Participation Team (SPT).

CMT Case Management Team A unit within ED that is responsible for all aspects of oversight of institutions that participate or seek to participate in the Title IV programs. Part of ED’s School Eligibility Channel (SEC).

COA Cost of Attendance An estimate of the student’s educational and living expenses for a specified enrollment period.

COD Common Origination and Disbursement

ED’s COD process is a system for processing, storing, and reconciling Direct Loan, Pell, and Campus-Based data. The system integrated the origination and disbursement processes of the Recipient Financial Management System (RFMA) and the Direct Loan Origination (DLO) systems into one system, and accepts student level data for the campus-based programs.

4

http://www.collegeboard.com/

https://www.cfda.gov/

http://nces.ed.gov/pubs2002/cip2000/

http://www.commonmanual.org/



COHEAO Coalition of Higher Education Assistance Organizations

A partnership of more than 300 educational and commercial members promoting student friendly, efficiently operated campus-based loan and tuition payment programs. (www.coheao.com)

COO Chief Operating Officer High-ranking executive in an organization who is responsible for the daily operation of the organization.

COSUAA Coalition of State University Aid Administrators

A nonprofit organization established as a forum for the free exchange of financial aid issues and ideas of relevance to state universities.

COTW Corrections of the Web Web tool used by students to make corrections to their FAFSA information. (http://www.fafsa.ed.gov)

CPA Certified Public Accountant Title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA.

CPS Central Processing System ED’s main system for processing and tracking all Title IV aid.

CR Common Record A standardization of the data elements, definitions, edits, and structure across Pell Grants and Direct Loans. Was also used for FEELP.

CRC CommonRecord:Commonline A common format used for the electronic exchange of FFELP student loan data using XML.

CREN The Corporation for Research and Educational Networking

A nonprofit, member organization of universities, colleges, and research organizations the supported higher education and research with Information Technology (IT) knowledge services and communication tools. Provided digital certificate and other services. The organization was dissolved in 2003 and most CREN services have been transitioned to other organizations. (www.cren.net)

CRI Common Review Initiative An ED approved cooperative effort among participating guarantors to create efficiencies and consistency in lender program reviews.

CRL Certificate Revocation Initiative A list of subscribers paired with a digital certificate status. One of two common methods when using a public key infrastructure for maintaining access to servers in a network.

CRS Congressional Research Service

CRS is the public policy research arm of the U.S. Congress. (www.crs.gov, but the public cannot access the website, it is for current members of Congress and their offices.)

CSAC California Student Aid Commission

Formerly the designated guarantor for California through its contracted servicer EdFund. EdFund’s federal student loan portfolio has been transferred to ECMC (Educational Credit Management Corporation).

CSLF Connecticut Student Aid Foundation

Formerly the designated guarantor for Connecticut. CSLF’s federal student loan portfolio has been transferred to ECMC (Educational Credit Management Corporation).

CSV Comma Separated Values A CSV file stores tabular data (numbers and text) in plain-text form. As a result, such a file is easily human-readable.

DAA Default Aversion Assistance Collection activities performed by the guarantor to assist a lender in preventing a delinquent loan from defaulting.

DAAF Default Aversion Assistance Fee

A fee paid to the guaranty agency for any loan on which a default claim is not paid as a result of the loan being brought into current repayment status by the guaranty agency on or before the 360th day of delinquency.

DAAR Default Aversion Assistance Request

The request submitted by the lender to a guarantor for assistance in order to prevent a delinquent loan from defaulting. Previously known as Lender Request for Assistance (LRA) and Preclaims Assistance (PCA).

DACS Default Aversion and Claims Standardization

A process to ensure consistency between the default aversion and claim forms and the supporting electronic processes.

DAF Default Aversion Fee See DAAF.

DCL Dear Colleague Letter An ED communication that explains and clarifies the Department’s guidance regarding federal regulations and statutes. Also known as a Dear Partner Letter (DPL). (http://ifap.ed.gov/ifap/byYear.jsp?type=dpcletters)

5

http://www.coheao.com/

http://www.fafsa.ed.gov/

http://www.cren.net/

http://www.crs.gov/




DCS Debt Collection Service ED organizational unit that receives subrogated loans from guarantors and the Direct Lending program and is responsible for the collection of these loans. Now known as Federal Student Aid, Borrower Services and Collections. (http://www2.ed.gov/offices/OSFAP/DCS/index.html)

DE U.S. Department of Education NOTE: Correct acronym is ED. An acronym sometimes used for the Department of Education. Executive branch of the federal government that establishes policy for, administers, and coordinates most federal assistance to education. (www.ed.gov)

DHS Department of Homeland Security

A department of the federal government established by the Homeland Security Ave of 2002. DHS is responsible for overseeing U.S. security by preparing for and reacting to terroristic threats. (www.dhs.gov)

DISA Data Interchange Standards Association

A nonprofit organization that is home for the development of cross-industry electronic business interchange standards. Serves as the Secretariat for Accredited Standards Committee (ACS) X12 and their X12 Electronic Data Interchange (EDI) and eXtensible Markup Language (XML) standards development process. (www.disa.org)

DL Direct Loan Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's college education. The lender is ED although the loan servicer may be a private business.

DLOS Direct Loan Origination System Replace by Common Origination and Disbursement (COD).

DLSAS Direct Loan School Account Statement Now known as School Account System (SAS).

DLSC Direct Loan Servicing Center Responsible for Direct Loan servicing. (ttps://studentloans.gov/myDirectLoan/index.action) DNW Discretionary Net Worth Used in Need Analysis. DOB Date of Birth Date of birth.

DOD U.S. Department of Defense The federal department responsible for the administration of the federal government’s military defense. (www.defense.gov)

DOE U.S. Department of Education NOTE: Correct acronym is ED. An acronym sometimes used for the Department of Education. Executive branch of the federal government that establishes policy for, administers, and coordinates most federal assistance to education. (www.ed.gov)

DOJ U,S, Department of Justice The federal department headed by the U.S. Attorney General (AG) responsible for the enforcement of federal laws and national security. (www.justice.gov)

DOL U.S. Department of Labor The federal department responsible for the protection of employees and researching employment related law. (www.dol.gov)

DPA Destination Point Administrator The owner or person responsible for the destination point mailbox(es) represented by TG numbers assigned to that Destination Point (institution) by ED.

DPL Dear Partner Letter A communication from ED that explains and clarifies the Department’s guidance regarding federal regulations and statutes. Also known as a Dear Colleague Letter (DCL). (http://ifap.ed.gov/ifap/byYear.jsp?type=dpcletters)

DRAP Default Reduction Assistance Program ED program that assists schools in bringing defaulted Federal Perkins Loan borrowers into repayment.

DRN Data Release Number A four-digit number assigned to an application by Federal Student Aid. It is printed on the upper right corner of the paper Student Aid Report (SAR), in the upper right corner on the electronic SAR, and on the confirmation page.

6

http://www2.ed.gov/offices/OSFAP/DCS/index.html

http://www.ed.gov/

http://www.dhs.gov/

http://www.disa.org/

https://studentloans.gov/myDirectLoan/index.action

http://www.defense.gov/

http://www.ed.gov/

http://www.justice.gov/

http://www.dol.gov/




DTD Document Type Definition

DTD is a set of markup declarations that define a document type for SGMIL-family markup languages (SGML, XML, HTML). DTDs were a precursor to XML schema and have a similar function, although different capabilities. DTDs use a terse formal syntax that declares precisely which elements and references may appear where in the document of the particular type, and what the elements’ contents and attributes are. DTDs also declare entities which may be used in the instance document.

DUNS Data Universal Numbering System

DUNS is a system developed and regulated by Dun & Bradstreet (D&B), that assigns a unique 9-digit numeric identifier, referred to as a “DUNS number” to a single business entity.

E-App Electronic Application to Participate in the Federal Student Financial Aid Programs

Postsecondary institutions use the E-App to apply for designation as an eligible institution, initial participation, recertification, reinstatement, change in ownership, or to update a current approval. (http://www.eligcert.ed.gov/)

E-SIGN Electronic Signature An electronic symbol or process attached to, or logically associated with, a record and used by a person with the intent to sign the document or record. Established under the Electronic Signatures in Global and National Commerce Act (ESIGN), enacted June 30, 2000.

EA Employment Allowance Expense

Provides for extra expenses that are inherent in families with two working parents or one-parent families where the single parent works and not in two-parent families where only one parent works, such as housekeeping and childcare services, transportation, and meals away from home. Can be used in professional judgment for adjustments.

EAC Education Assistance Corporation

Formerly the designated guarantor for South Dakota. Portfolio transferred to Great Lakes Higher Education Corporation (GLHEC). (www.mygreatlakes.org)

EAC Electronic Access Code Also known as a Personal Identification Number (PIN). A 4-digit number assigned to an individual by ED that is used in combination with other identifiers to access various ED systems, such as the Free Application for Federal Student Aid (FAFSA) and the National Student Loan Data System (NSLDS).

EASFAA Eastern Association of Student Financial Aid Administrators

The regional financial aid association that includes: Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Puerto Rico, Rhode Island, and Vermont. (www.easfaa.org)

ECAR Eligibility and Certification Approval Report Report provided by ED to a school showing program eligibility and approval.

ECASLA Ensuring College Access to Student Loans Act of 2008

In 2008, Congress passed legislation granting ED temporary authority to purchase FFELP loans to ensure that FFELP lenders had access to adequate and affordable capital and could convert their loan assets into cash to fund new loans.

ECB Ending Cash Balance Calculated by subtracting cash outflows, interest paid for financing and principal paid on financing FROM cash inflows and financing such as bank loans, operating loans, etc.

ECFR Electronic Code of Federal Regulations

Electronic version of the Code of Federal Regulations. Title IV regulations may be found at http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?sid=7a987d9af3df54c27f23ce3fe52a4b09&c=ecfr&tpl=/ecfrbrowse/Title34/34tab_02.tpl)

ECMC Educational Credit Management Corporation Designated guarantor for Virginia and Oregon. (www.ecmc.org)

ECOA Equal Credit Opportunity Act Enacted in 1974 as part of the Truth In Lending Act to prohibit discrimination based on race, color, religion, national origin, sex, marital status, age, or whether an individual is receiving certain types of income. (www.ftc.gov)

7

http://www.eligcert.ed.gov/

http://www.mygreatlakes.org/

http://www.easfaa.org/

http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?sid=7a987d9af3df54c27f23ce3fe52a4b09&c=ecfr&tpl=/ecfrbrowse/Title34/34tab_02.tpl

http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?sid=7a987d9af3df54c27f23ce3fe52a4b09&c=ecfr&tpl=/ecfrbrowse/Title34/34tab_02.tpl

http://www.ecmc.org/

http://www.ftc.gov/



ECP Electronic Claim Processing The electronic transmission of claim information from the lender to the guarantor using the Common Claim Initiative (CCI) standard format.

ED U.S. Department of Education An acronym typically used for the Department of Education. Executive branch of the federal government that establishes policy for, administers, and coordinates most federal assistance to education. (www.ed.gov)

ED Form 799 ED Form 799

A federal paper form that a lender used to report loans made and origination fees owed to ED and interest benefits and special allowance earned by the lender. Now reported electronically and known as Lender Reporting System (LaRs).

EDA Electronic Debit Account Direct Loan borrowers may pay their monthly Direct Loan payments by EDA which allows the borrower’s bank to automatically deduct the monthly payment(s) from the borrower’s checking or savings account.

EDCAPS ED’s Consolidated Accounting and Payment System

A plan that calls for improved financial management through a seamlessly integrated financial management and information systems to support ED’s core management information functions.

EDE Electronic Data Exchange Program used by participating schools to electronically receive Institutional Student Information Records (ISIRs) from the Central Processing System (CPS). Schools may also use the program to incorporate electronic FAFSA capability and correction functionality into their institutional systems.

EDI Electronic Data Interchange The structured transmission of data between organizations by electronic means.

EDPUBS ED’s center for ordering publications ED’s center for ordering publications. Now known as FSAPubs. (http://www.fsapubs.gov/)

EDS Electronic Data Systems A for profit company that is a major contractor with ED.

EEOC Equal Employment Opportunity Commission

Responsible for enforcing federal laws that make it illegal to discriminate against a job applicant or an employee because of the person’s race, color, religion, sex (including pregnancy), national origin, age (40 or older), disability, or genetic information. Federal laws covered include Title VII of the Civil Rights Act of 1964 (Title VII), the Equal Pay Act (EPA), the Age Discrimination in Employment Act (ADEA), and the Americans with Disabilities Act (ADA). (www.eeoc.gov)

EFA Expected Financial Assistance The school’s estimate of the amount of financial assistance from federal, state, institutional, or other sources that a student (or parent on behalf of the student) will receive for a period of enrollment.

EFC Education Finance Council Association representing the nation’s nonprofit and state agency student finance organizations. (www.efc.org)

EFC Expected Family Contribution The amount a student and the student’s spouse or family is expected to pay toward the student’s cost of attendance. The Federal Need Analysis Methodology must be used to calculate the EFC.

EFT Electronic Funds Transfer The electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.

EIC Earned Income Credit Tax credit for certain people who work and have low wages. EIN Employer Identification Number Also known as a Federal Tax Identification Number (TIN). Used to identify a business entity.

ELM Education Loan Management Organization that provides a common, non-proprietary, and open information exchange and disbursement system online that connects the diverse computing platforms of its members while providing real-time loan inquiry to borrowers. (www.elmresources.com)

eMPN Electronic Master Promissory Note Electronic version of the Master Promissory Note.

ESAR Electronic Student Aid Report Electronic transmission of the Student Aid report (SAR). The more commonly used term is ISIR (Institutional Student Information Records).

8

http://www.ed.gov/

http://www.fsapubs.gov/

http://www.eeoc.gov/

http://www.efc.org/

http://www.elmresources.com/



ESL English as a Second Language Students whose native language is not English.

ESC Electronic Standards Committee

Established by the National Council of Higher Education Loan Programs (NCHELP) to replace the CommonLine Committee, this committee served to establish a coordinated and proactive approach for all NCHELP electronic standardization efforts. Now known as the Standards and Operations Committee.

ESC Electronic Standard Council A nonprofit organization that promotes the implementation and usage of data exchange standards. Now known as PESC (Post-Secondary Electronics Standards Council). (www.pesc.org )

ESOA Electronic Statement of Account Electronic version of the Statement of Account sent to schools by ED..

EVR Enrollment Verification Report Report issued by the school to lenders, servicers, or guarantors verifying a student’s enrollment status. Student Status Confirmation Report (SSCR) is the more commonly used term.

FAA Financial Aid Administrator A staff member at a school who is charged with the administration of financial aid programs. See also Financial Aid Officer (FAO).

FACTA Fair and Accurate Credit Transactions Act of 2003

Amendment to the Fair Credit Reporting Act that protects consumer credit information and aids in the prevention of identity theft. Also called the Fact Act.

FACT Act Fair and Accurate Credit Transactions Act of 2003

Amendment to the Fair Credit Reporting Act that protects consumer credit information and aids in the prevention of identity theft.

FADL Final Audit Determination Letter The letter conveying ED’s final audit determination.

FAFSA Free Application for Federal Student Aid

Application a student (and for dependent students, their parents) must complete to apply for federal Title IV financial assistance. The student must include financial information on the student’s household so that the expected family contribution (EFC) can be calculated. (www.fafsa.ed.gov)

FAME Finance Authority of Maine Designated guarantor for Maine. (www.famemaine.com) FAO Financial Aid Office The office at a school charged with the administration of financial aid programs.

FAO Financial Aid Officer A staff member at a school who is charged with the administration of financial aid programs. See also Financial Aid Administrator.

FAT Financial Aid Transcript

An official record of the federal financial aid a student has received at all schools the student attended. The record is sued to assess the amount of federal financial aid the student has received and to prevent the award of federal funds for which the student or the parent of a dependent student is not eligible. This information is available on the National Student Loan Data System (NSLDS). (www.nslds.ed.gov)

FC Family Contribution See also Expected Family Contribution (EFC).

FCC Federal Capital Contribution (Perkins) Allocations of Federal capital to schools participating in the Federal Perkins Loan Program by ED.

FCRA Fair Credit Reporting Act A federal law enacted in 1970 that regulates the collection, dissemination, and use of consumer information, including consumer credit information.

FDCPA Fair Debt Collection Practices Act

A statute added in 1978 as Title VIII of the Consumer Credit Protection Act. Its purposes are to eliminate abusive practices in the collection of consumer debts, to promote fair debt collection, and to provide consumers with an avenue for disputing and obtaining validation of debt information in order to ensure the information’s accuracy.

FDLP Federal Direct Loan Program A student loan program created as part of the 1992 Higher Education Act (HEA) Reauthorization in Title IV, Part D, of the Higher Education Act. The program is similar to the Federal Family Education Loan Program

9

http://www.pesc.org/


http://www.famemaine.com/

http://www.nslds.ed.gov/



(FFELP), except that funding comes directly from the U.S, Treasury rather than from private lending institutions. Also referred to as the William D. Ford Federal Direct Loan Program.

FDSLP Federal Direct Student Loan Program Same as FDLP.

FEDWIRE

US Treasury Financial Communication System/Deposit Message Retrieval System

Formally known as the Federal Reserve Wire Network. A Real Time Gross Settlement Funds Transfer system operated by the United States Federal Reserve Banks that enables financial institutions to electronically transfer funds between its participants.

FERPA Family Education Rights and Privacy Act of 1974

Enacted in 1974, this law allows students with access to their education records, an opportunity to seek to have the records amended, and some control over the disclosure of information from the records. With several exceptions, schools must have a student’s consent prior to the disclosure of education records. The Act applies to educational agencies and institutions that receive funding under a program administered by ED. Also known as the Buckley Amendment.

FFEL Federal Family Education Loan Same as FFELP.

FFELP Federal Family Education Loan Program

Loan program authorized by Title IV, Part B of the Higher Education Act of 1965, as amended, and defined in 34 CFR 682, that includes the Federal Stafford, Federal PLUS, Federal Supplemental Loans for Students (SLS), and Federal Consolidation Loans. The loans were funded by lenders, guaranteed by guarantors, and reinsured by the federal government. The program was ended with the passage of the Health Care and Education Reconciliation Act of 2010 and no subsequent loans were permitted to be made under the program after June 30, 2010.

FFY Federal Fiscal Year The fiscal year observed by the federal government, running from October 1 to September 30.

FICO Fair Isaac Credit Score The best-known and most widely used credit score model in the U.S., the FICO score is calculated statistically, with information from a consumer’s credit files. The letters stand for Fair Isaac COrporation. (www.myfico.com)

FISAP Fiscal Operations Report and Application to Participate

An ED form that contains the Application to Participate in the three campus-based programs (Federal Perkins Loan, Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Work-Study (FWS) for the next award year, and the Fiscal Operations Report for program expenditures during the prior award year.

FISL Federally Insured Student Loan The loan program authorized by Title IV, Part B of the Act under which the Secretary directly insured lenders against losses. The program was the forerunner to the Guaranteed Student Loan Program (GSLP) and Federal Family Education Loan Program (FFELP).

FM Federal Need Analysis Methodology

The formula that calculates the expected family contribution (EFC) used to determine the amount of Title IV assistance available to a student.

FMS Financial Management System

Centralized system for all FSA financial transactions. Allows Financial Partners (FP) users to collect, process, maintain, transmit, and report data about financial events on-line. Also provides functionality to support financial planning and budgeting activities, accumulate and report cost information, and the preparation of financial statements.

FOIA Freedom of Information Act Federal freedom of information law that allows for the full or partial disclosure of previously unreleased information and documents controlled by the United States government.

10

http://www.myfico.com/



11

FOTW FAFSA on the Web Electronic version of the FAFSA. (www.fafsa.ed.gov/)

FP Financial Partners Dear Colleague Letter


FPLUS Federal PLUS Federal Parent Loan for Undergraduate Students (PLUS)

FPRD Final Program Review Determination

ED’s final response to a program review.

FR Federal Register

Published by the Office of the Federal Register, National Archives and Records Administration (NARA), the Federal Register is the official daily publication for rules, proposed rules, and notices of federal agencies and organizations, as well as executive orders and other presidential documents. http://www.gpo.gov/fdsys/browse/collection.action?collectionCode=FR

FSA Federal Student Aid Aid offered to postsecondary students by the federal government in the form of grants, loans, work-study programs and other forms of assistance.

FSA Federal Student Aid A performance-based organization within ED that administers the Federal Student Aid programs. These programs include grants, loans, and work-study. Previously known as Student Federal Aid (SFA). (www.ed.gov)

FSAIC Federal Student Aid Information Center Federal Student Aid’s (FSA) information center for students. 1-800-4-FED-AID.

FSAPubs Federal Student Aid Publications Federal Student Aid’s (FSA) publications ordering site. (http://www.fsapubs.gov/)

FSEOG Federal Supplemental Educational Opportunity Grant A campus-based federal student aid program that is need-based.

FT Full-Time Can refer to student enrollment status or a person’s employment status. FTI FISAP Total Income Calculation on the Fiscal Operations Report and Application to Participate (FISAP). FTC Federal Trade Commission Responsible for enforcing federal antitrust and consumer protection laws. (www.ftc.gov)

FTP File Transfer Protocol A standard network protocol used to transfer files from one host to another host over a TCP-based (Transmission Control Protocol) network, such as the Internet.

FTPA Fair Trade Practices Act Enacted in 1987, this law addresses misleading and deceptive conduct, unfair trading practices, and consumer information.

FWS Federal Work-Study A campus-based federal student aid program that is need-based.

FY Fiscal Year A standard twelve-month period as determined by a particular entity used for calculating annual financial statements.

G Guaranty Agency Dear Colleague Letter


G5 Grants Payment System ED’s payment system. All schools receive FSA funding through G5 (Formerly GAPS).

GA Guaranty Agency A state or private nonprofit organization that, under an agreement with the U.S. Secretary of Education, administers the loan guarantee portion of FFELP (Federal Family Education Loan Program).

GAAP Generally Accepted Accounting A widely accepted set of rules, conventions, standards, and procedures for reporting financial information, as



http://www.gpo.gov/fdsys/browse/collection.action?collectionCode=FR

http://www.ed.gov/

http://www.fsapubs.gov/

http://www.ftc.gov/




Principles established by the Financial Accounting Standards Board ( FASB).

GAAS Generally Accepted Auditing Standards

Auditing standards established by the Auditing Standards Board of the American Institute of Certified Public Accountants.

GAGAS Generally Accepted Government Auditing Standards

Standards used by auditors who examine the federal government. Commonly referred to as the “Yellow Book”. (http://www.gao.gov/yellowbook)

GAN Global Area Network A network used for supporting mobile across an arbitrary number of wireless LANs (Local Area Network), satellite coverage areas, and so on.

GAP Grants for Access and Persistence

Program that assists States in establishing partnerships to provide eligible students with LEAP Grants under GAP to attend college and to encourage increased participation in early information and intervention, mentoring, or outreach programs.

GAPS Grants Administration and Payment System Now known as G5.

GAO Government Accountability Office

An independent, nonpartisan agency headed by the Comptroller General that works for Congress and investigates how the federal government spends taxpayer dollars. Formerly known as the General Accounting Office. (www.gao.gov)

GAS Government Auditing Standards Government auditing standards, also known as the Yellow Book. (http://www.gao.gov/yellowbook)

GASB Government Accounting Standard Board

Board to establish and improve standards of state and local governmental accounting and financial reporting that will result in useful information for users of financial reports, and guide and educate the public, including issuers, auditors, and users of those financial reports. (http://www.gasb.org/)

GE Gainful Employment

Gainful employment is a legal term that was created to give meaning to various types of training, especially training provided by institutes of higher learning. The government needed a way of tracking the success and purpose of their programs, which helped schools and other training organizations qualify for government funding and clarified what tax categories.

GEAR UP Gaining Early Awareness and Readiness for Undergraduate Programs

A discretionary federal grant program designed to increase the number of low-income students who are prepared to enter and succeed in postsecondary education. (http://www2.ed.gov/programs/gearup/index.html)

GED General Education Diploma Certificate of high school equivalency. (http://www.acenet.edu/AM/Template.cfm?Section=GED_TS)

GEN General Dear Colleague Letter An ED communication that explains and clarifies the Department’s guidance regarding federal regulations and statutes. Also known as a Dear Partner Letter (DPL). (http://ifap.ed.gov/ifap/byYear.jsp?type=dpcletters)

G-L-B Privacy Act

Gramm-Leach-Bliley Privacy Act

Enacted in 1999, the law protects the release of customer nonpublic personal information (NPPI) by financial institutions to unauthorized individuals or businesses. (http://business.ftc.gov/privacy-and-security/gramm-leach-bliley-act)

GLHEGC Great Lakes Higher Education Guaranty Corporation

Designated guarantor for Wisconsin, Minnesota, Ohio, Puerto Rico, and the Virgin Islands. (www.mygreatlakes.org)

GLOS Guarantor and Lender Oversight Service

The former name of an ED unit responsible for ensuring lender and guarantor compliance with the Federal Family Education Loan Program (FFELP) regulations. This unit is now part of the Financial Partners Channel.

12

http://www.gao.gov/yellowbook

http://www.gao.gov/

http://www.gao.gov/yellowbook

http://www.gasb.org/

http://www2.ed.gov/programs/gearup/index.html

http://www.acenet.edu/AM/Template.cfm?Section=GED_TS


http://business.ftc.gov/privacy-and-security/gramm-leach-bliley-act

http://business.ftc.gov/privacy-and-security/gramm-leach-bliley-act

http://www.mygreatlakes.org/



(http://www.fp.ed.gov/fp/ ) GPA Grade Point Average Calculation that reflects the overall grades of the student.

GPO Government Printing Office Provides publishing and dissemination services for the official and authentic government publications to Congress, federal agencies, federal depository libraries, and the American public. (http://www.gpo.gov/)

Grad PLUS PLUS Loans for Graduate and Professional Students PLUS Loans for graduate and professional students.

GSFC Georgia Student Finance Commission Designated guarantor for Georgia. (www.gsfc.org)

GSL Guaranteed Student Loan The loan program authorized by Title IV, Part B of the Higher Education Act (HEA) under which the Secretary directly insured lenders against losses. Now known as FFELP.

HBCU Historically Black Colleges and Universities

Institutions of higher education in the U.S. that were established before 1964 with the intention of serving the black community.

HEA Higher Education Act of 1965

Signed into law on November 8, 1965, as part of President Lyndon Johnson’s Great Society domestic agenda, the law was intended “to strengthen the educational resources of our colleges and universities and to provide financial assistance for students in postsecondary and higher education.” Financial assistance for students is covered in Title IV of the HEA.

HEAL Health Education Assistance Loan

Title VII loan program established to offer graduate students studying in specific medical programs additional funds. Program discontinued in 1998.

HEOA Higher Education Opportunity Act of 2008

Enacted on August 14, 2008, one of the provisions of this Act is that each postsecondary institution in the U.S. that participates in Title IV student aid programs must post a net price calculator on its Web site that uses institutional data to provide estimated net price information to current and prospective students and their families based on a student’s individual circumstances.

HERA Higher Education Reconciliation Act of 2005

Changed some of the terms of the federal Stafford, PLUS, and consolidation loans made under the Federal Family Education Loan Program (FFELP).

HESSA New Jersey Higher Education Student Assistance Authority Designated guarantor for New Jersey. Also known as NJHESAA. (www.hesaa.org)

HESC New York State Higher Education Services Corporation Designated guarantor for New York. Also known as NYHESC. (www.hesc.com)

HPSL Health Professions Student Loan

A Title VII loan program that provides long-term, low interest rate loans to full-time, financially needy students to pursue a degree in dentistry, optometry, pharmacy, podiatric medicine, or veterinary medicine. (www.hrsa.gov/loanscholarships/loans/healthprofessions.html)

HSI Hispanic-Serving Institutions Federal program designed to assist colleges or universities in the U. S. that attempt to assist first generation, majority low income Hispanic students

HT Half-Time Refers to student enrollment status. HTML Hypertext Markup Language The main markup language for web pages. HTML elements are the basic building-blocks of webpages.

HTTP Hypertext Transfer Protocol An application protocol for distributed, collaborative, hypermedia information systems. HTTP is the foundation of data communication for the World Wide Web.

HTTPS Hypertext Transfer Protocol Secure

A combination of Hypertext Transfer Protocol (HTTP) and Transport Layer Security (TLS)/Secure Socket Layer (SSL) protocol that provides encrypted communication and secure identification of a network web

13

http://www.gpo.gov/

http://www.gsfc.org/

http://www.hesaa.org/

http://www.hesc.com/

http://www.hrsa.gov/loanscholarships/loans/healthprofessions.html



server.

IASG Iraq and Afghanistan Service Grant

A grant program for students whose parent or guardian was a member of the U.S. Armed Forces and died as a result of service performed in Iraq or Afghanistan after September 11, 2001.

IBR Income-Based Repayment Plan

Repayment plan that caps the borrower’s required monthly payment at an amount intended to be affordable based on income and family size.

ICA Intensive Collection Activities A series of collection activities performed within an abbreviated time frame. Performance of the activities within the time frames prescribed reestablishes the guarantee on loans on which the lender's noncompliance with due diligence requirements has resulted in the cancellation of the guarantee.

ICC Institutional Capital Contribution Related to the Perkins Loan Program.

ICR Income-Contingent Repayment Plan

Direct Loan repayment plan that gives the borrower flexibility without causing undue financial hardship. Each year, the borrower's payments are calculated based on adjusted gross income (AGI), plus spouse's income if married), family size, and the total amount of the borrower's Direct Loans.

ICM Integrated Common Manual An online version of the Common Manual that is updated monthly as policy changes are approved. The changes to the ICM are noted using underlines for new language and strikeouts for deleted language.

ICR Income Contingent Repayment A repayment option under the Federal Direct Loan Program (FDLP) that bases the monthly payment amount on adjusted gross income, family size, and total amount of Direct Loans.

ICSAC Iowa College Student Aid Commission Designated guarantor for Iowa. (www.iowacollegeiad.gov)

ID Identification A unique identifier assigned to user to gain access to systems or functions of a system.

IFAP Information for Financial Aid Professionals

ED’s website that consolidates guidance, resources, and information related to the administration and processing of Title IV federal student aid into one online site for use by the entire financial aid community.

IFX Interactive Financial eXchange A forum where business and technology professionals gather to develop and promote adoption of IFX, an open, interoperable standard for financial data exchange that is designed to meet the business requirements of the global financial services industry. (http://www.ifxforum.org/home/)

IG Inspector General The head of the Office of Inspector General within ED which is charged with the detection and prevention of fraud, waste, and abuse, and violations of law and the promotion of efficiency, effectiveness, and integrity of ED’s programs and operations. (http://www2.ed.gov/about/offices/list/oig/index.html)

IHE Institution of Higher Education Provides post-secondary education.

IIS Institutional Improvement Specialist

Member of Federal Student Aid’s (FSA) Case Management Team in the Institutional Participation and Oversight Service.

IMS Instructional Management Systems

IMS Global Learning Consortium is a nonprofit collaboration focused on the advancing of technology that can affordably scale and improve educational participation and attainment, (www.imsglobal.org)

INS Immigration and Naturalization Service Former name for U.S. Citizen and Immigration Services (USCIS). (www.uscic.gov)

IPA Income Protection Allowance A modest allowance for basic living expenses used in the aid calculation.

IPEDS Integrated Postsecondary Education Data System

Established as the core postsecondary education data collection program for the National Center for Education Statistics (NCES). It is a system of surveys designed to collect data from all primary providers of

14

http://www.iowacollegeiad.gov/

http://www.ifxforum.org/home/

http://www2.ed.gov/about/offices/list/oig/index.html

http://www.imsglobal.org/

http://www.uscic.gov/



postsecondary education. (http://nces.ed.gov/ipeds/) IPEDS COOL

IPEDS College Opportunities On-Line

Former name of the National Center for Education Statistics (NCES) College Navigator. The site helps students find information on colleges. (http://nces.ed.gov/collegenavigator/)

IPOS Institutional Participation and Oversight Service Previous name for ED's Case Management Team (CMT).

IRS Internal Revenue Service An agency of the U.S. Treasury Department that is responsible for tax collection and administering the Internal Revenue Code. (www.irs.gov)

ISAC Illinois Student Assistance Commission

Designated guarantor for Illinois. (www.collegezone.com)

ISIR Institutional Student Information Record

The electronic output record provided to the school by ED's Central Processing System (CPS) that includes information provided by the student on the Free Application for Federal Student Aid (FAFSA). The ISIR also contains the student's expected family contribution (EFC) and the results of federal database matched. The email version or paper version that is sent to the student is called a Student Aid Report.

ISO International Organization for Standardization

Nongovernmental organization whose mission is to promote the development of standardization and related activities in the world with a view to facilitating the international exchange of goods and services and developing cooperation in the spheres of intellectual, scientific, technological, and economic activity. (www.iso.org)

ITB Invitation to Bid A written document from an organization inviting bods from possible suppliers of a product or service, or by a government or other funding agency inviting bids from possible research bodies.

JIT Just In Time Pilot program for schools to obtain Pell funds.

JLD Job Location and Development Program One of the Federal Work-Study (FWS) programs.

JSP Java Server Pages A Java technology that helps software developers serve dynamically generated web pages based on HTML, XML, or other document types.

KCP King-Chavez-Parks Initiative The goal of the Martin Luther King, Jr. - Cesar Chavez – Rosa Parks (KCP) Initiative is to achieve parity in the graduation rates of minority students who have traditionally been underrepresented in higher education compared to their share of the population.

KHEAA Kentucky Higher Education Assistance Authority

Designated guarantor for Kentucky. (www.kheaa.com)

L FFEL Lender Dear Colleague Letter

An ED communication that explains and clarifies the Department’s guidance regarding federal regulations and statutes. Also known as a Dear Partner Letter (DPL). (http://www.ifap.ed.gov/ifap/byYear.jsp?type=dpcletters)

LAN Local Area Network A computer network that interconnects computers in a limited area such as a home, school, computer laboratory, or office building.

LAP Lender Application Process Demographic data application that a lender must submit to the Federal Student Aid (FSA) office in order to participate in LaRS.

LaRS Lender Reporting System Electronic version of the Lender's Interest and Special Allowance Request and Report. Formerly known as ED Form 799.

LCC Loan Consolidation Center Direct Loan consolidation (http://www.loanconsolidation.ed.gov/)

15

http://nces.ed.gov/ipeds/

http://nces.ed.gov/collegenavigator/

http://www.irs.gov/

http://www.collegezone.com/

http://www.iso.org/

http://www.kheaa.com/


http://www.loanconsolidation.ed.gov/



LD Limited Distribution Dear Colleague Letter

An ED communication that explains and clarifies the Department’s guidance regarding federal regulations and statutes. Also known as a Dear Partner Letter (DPL). (http://www.ifap.ed.gov/ifap/byYear.jsp?type=dpcletters)

LDA Last Date of Attendance Last date a student attended school.

LDS Loans for Disadvantaged Students

A Title VII loan program that provides long-term, low-interest rate loans to full-time, financially needy students from disadvantaged backgrounds, to pursue a degree in allopathic medicine, osteopathic medicine, dentistry, optometry, podiatric medicine, pharmacy or veterinary medicine. (http://www.hrsa.gov/loanscholarships/loans/disadvantaged.html)

LEAP Program

Leveraging Educational Assistance Partnership Program

Provides grants to states to assist them in providing need-based grants and community service work-study assistance to eligible postsecondary students. States must administer the program under a single state agency and meet maintenance-of-effort criteria. Formerly known as the State Student Incentive Grant (SSIG). (http://www2.ed.gov/programs/leap/index.html)

LEU Lifetime Eligibility Used Calculation of lifetime Pell Grant eligibility used by a student.

LIBOR London Interbank Offered Rate

The average interest rate that leading banks in London charge when lending to other banks. Banks borrow money for one day, one month, two months, six months, one year, etc., and they pay interest to their lenders based on certain rates. The Libor figure is an average of these rates. Many financial institutions, mortgage lenders and credit card agencies track the rate, which is produced daily at 11 a.m. to fix their own interest rates which are typically higher than the Libor rate. As such, it is a benchmark for finance all around the world.

LLR Lender of Last Resort

A lender or guarantor that agreed to make Stafford and/or PLUS loans to student and/or parent borrowers who are otherwise unable to obtain loans from other eligible lenders for the same period of enrollment or student borrowers who are attending schools that have been designated as LLR schools and parents of students attending such schools.

LOA Leave of Absence Period of time that a student is away from school.

LOC Letter of Credit A document issued mostly by a financial institution, used primarily in trade finance, which usually provides an irrevocable payment undertaking.

LOE Level of Expenditures Related to Perkins Loan Program.

LOSFA Louisiana Office of Student Financial Assistance Designated guarantor for Louisiana. (http://www.osfa.la.gov/)

LPIF Loan Processing and Issuance Fee

A payment to guaranty agencies that equaled 0.40 percent of the total principal of loans originated on or after October 1, 2003 on which the agency has issued insurance.

LRA Lender's Request for Assistance Previous term for a lender's Default Aversion Assistance Request (DAAR).

LSDA Late Stage Delinquency Assistance Assistance in order to prevent a delinquent loan from defaulting.

LS&T Limitation, Suspension, or Termination

Disciplinary actions taken by ED against a school, lender, or guarantor base on noncompliance with federal regulations or excessive cohort default rates.

LTH Less Than Half-Time A student's enrollment status.

LVC Loan Verification Certificate A certificate of indebtedness that provides verification from the student loan holder(s) listing the payoff balance on a borrower’s loan(s).

16


http://www.hrsa.gov/loanscholarships/loans/disadvantaged.html

http://www2.ed.gov/programs/leap/index.html

http://www.osfa.la.gov/



MASFAA Midwest Association of Student Financial Aid Administrators

The regional financial aid association that includes Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, Ohio, West Virginia, and Wisconsin. (www.masfaaweb.org)

MDE Multiple Data Entry Processor Entity with ED contract to process ED work.

MDHE Missouri Department of Higher Education

Designated guarantor for Missouri. Formerly operated as MOSTARS and Missouri Student Loan Program. (www.dhe.mo.gov)

MGA Michigan Guaranty Agency Designated guarantor for Michigan. Part of the Michigan Higher Education Assistance Authority. (www.michigan.gov/mistudentaid)

MGSLP Montana Guaranteed Student Loan Program Designated guarantor for Montana. (www.mgslp.org)

MHESLA Michigan Higher Education Student Loan Authority

MHESLA is a state agency that participates as a lender and secondary market in the FFELP. (http://www.michigan.gov/mistudentaid)

MPN Master Promissory Note A promissory note used in both the Federal Stafford and PLUS programs under which the borrower may receive loans for either a single academic year or multiple academic years.

MRR Multiple Reporting Record Type of Pell reporting record.

MYF Mapping Your Future A public service, collaborative provider of free information and services for schools, and for students and families as they consider college, financial aid, careers, and financial literacy options. (www.mappingyourfuture.org)

NACAC National Association of College Admission Counseling

An organization that brings together primary and secondary school counselors, independent counselors, college admission and financial aid officers, enrollment managers, and other organizations engaged in guiding students through the secondary to higher education transition process. (www.nacac.org)

NACHA National Automated Clearing House Association

The electronic Payments Association responsible for developing electronic solutions to improve the payments system. (www.nacha.org)

NACUA National Association of College and University Attorneys

Association whose purpose is to enhance legal assistance to colleges and universities by educating attorneys and administrators to the nature of campus legal issues. (www.nacua.org)

NACUBO National Association of College and University Business Officers

Nonprofit professional organization representing chief administrative and financial officers at more than 2,500 colleges and universities across the country. (www.nacubo.org)

NAFSA National Association of International Educators

The association provides a forum for discussion of issues and a network for sharing information as it seeks to increase awareness of and support for international education in higher education, in government, and in the community. (www.nafsa.org)

NAICU National Association of Independent Colleges and Universities

A voluntary association representing private colleges and universities on policy issues to the federal government. (www.naicu.edu)

NASFAA National Association of Student financial Aid Administrators

National organization of financial aid professionals that provides information on regulatory and statutory changes, and sub-regulatory guidance, along with comprehensive analysis of industry trends. Primary focus is schools, but includes some lender and guarantor issues. (www.nasfaa.org)

NASLA National Association of Student Loan Administrators

As association comprised of several guaranty agencies whose purpose is to reinvent the guaranty agency function by moving away from the role of “insurer” to a fee-for-service model. (http://www.borrowersrights.org/about-the-campaign/about-nasla.cfm)

17

http://www.masfaaweb.org/

http://www.dhe.mo.gov/

http://www.michigan.gov/mistudentaid

http://www.mgslp.org/

http://www.michigan.gov/mistudentaid

http://www.mappingyourfuture.org/

http://www.nacac.org/

http://www.nacha.org/

http://www.nacua.org/

http://www.nacubo.org/

http://www.nafsa.org/

http://www.naicu.edu/

http://www.nasfaa.org/

http://www.borrowersrights.org/about-the-campaign/about-nasla.cfm



NASSGAP National Association of State Student Grant and Aid Programs

Membership is drawn from single agencies in each state or territory that are responsible for state-funded student aid programs. Dedicated to the promotion, strengthening, encouragement and enhancement of high standards in the administration and operation of student grant and aid programs so that these programs shall be available to students in all states to expand and further postsecondary opportunities. (http://www.nassgap.org/ )

National SMART Grant

National Science and Mathematics Access to Retain Talent Grant Program

A federal assistance grant program reserved for college students with the greatest need for financial aid that was available from the 2006 - 2007 award year through the 2010 – 2011 award year. Was available during the third and fourth years of undergraduate study (or fifth year of a five-year program) to at least half-time students who are eligible for the Federal Pell Grant and who are majoring in physical, life, or computer sciences, mathematics, technology, engineering or a critical foreign language; or non-major single liberal arts programs.

NCA CASI North Central Association Commission on Accreditation and School Improvement

NCA CASI is a non-governmental, voluntary organization that accredits more than 9,000 public and private schools in 19 states, the Navajo Nation, and the Department of Defense Dependents’ Schools worldwide. (www.ncacasi.org)

NCAA National Collegiate Athletic Association The NCAA is an organization with responsibility for overseeing college athletics. (www.ncaa.org)

NCES National Center for Education Statistics

A unit within ED responsible for collecting and analyzing data related to education in the U.S. and other nations. (http://nces.ed.gov/)

NCHELP National Council of Higher Education Loan Programs

Represents a nationwide network of guaranty agencies, secondary markets, lenders, loan servicers, collection agencies, schools, and other organizations involved in the administration and servicing of federal and alternative student loans. NCHELP members promote student access and choice for postsecondary education and training. Based in Washington, D.C., NCHELP represents its members on public policy and regulatory issues with the legislative and executive branches of the federal governments. (www.nchelp.org)

NCSEAA North Carolina State Education Assistance Authority Designated guarantor for North Carolina (www.ncseaa.edu)

NDEA National Defense Education Act of 1958 Provided funding to United States education institutions at all levels.

NDN National Disbursement Network Service of Education Loan Management (ELM) that standardizes the loan disbursement process by providing for Federal Family Education Loan Program (FFELP) and private loan funding through a single source.

NDSL National Defense Student Loan or National Direct Student Loan The former names of the Federal Perkins Loan.

Neg Reg Negotiated Regulations (aka Negotiated Rule Making)

A process where the student loan community works with ED to promulgate new or revised regulations. See also reg neg.

NELA Northwest Education Loan Association Designated guarantor for Washington and Idaho. (www.nela.net)

NHHEAF New Hampshire Higher Education Assistance Foundation

Designated guarantor for New Hampshire. (www.nhheaf.org)

NJHESAA New Jersey higher Education Student Assistance Authority Designated guarantor for New Jersey. Also known as HESAA. (www.hesaa.org)

NMSLGC New Mexico Student Loan Designated guarantor for New Mexico. (www.nmstudentloans.org)

18

http://www.nassgap.org/

http://www.ncacasi.org/

http://www.ncaa.org/

http://nces.ed.gov/

http://www.nchelp.org/

http://www.ncseaa.edu/

http://www.nela.net/

http://www.nhheaf.org/

http://www.hesaa.org/

http://www.nmstudentloans.org/



Guarantee Corporation (dba New Mexico Student Loans)

NOG Notice of Guarantee Under the Federal Family Education Loan Program (FFELP), this was a notice generated by the guarantor and sent to the borrower and lender that serves as evidence that the loan had been guaranteed. It provided relevant loan data such as loan amount, interest rate, applicable guarantee and origination fees, etc.

NPI Nonpublic Personal Information Any information about an individual that is not publicly available.

NPRM Notice of Proposed Rule Making

Notice published in the Federal Register alerting the public to a proposed new rule or proposed revision of an existing rule.

NPWW Notice of Pending Wage Withholding or Notice Prior to Wage Withholding

A notice that the guarantor sends to the borrower when initiating Administrative Wage garnishment (AWG).

NRMSIRs National Recognized Municipal Securities Information Repositories

Four places that receive annual updates from bond issuers on significant changes. Helps bondholders determine whether to keep or sell bonds. (www.sec.gov/answers/nrmsir.htm)

NSC National Student Clearinghouse

Formerly known as the National Student Loan Clearinghouse or Clearinghouse. A nonprofit association that streamlines the student record verification process for colleges and universities allowing them to improve the quality of service to students, lending institutions, employers, and others. (www.studentclearinghouse.org)

NSL Nursing Student Loan A Title VIII loan program that provides long-term, low-interest rate loans to full-time and half-time financially needy students pursuing a course of study leading to a diploma, associate, baccalaureate or graduate degree in nursing.

NSLDS National Student Loan Data System

A database comprised of information from guarantors, schools, lenders, and ED which contains information on Title IV loans and Pell grants received by students. (www.nslds.ed.gov)

NSLP National Student Loan Program Designated guarantor for Nebraska. (www.nslp.org)

NUCEA National University Continuing Education Association See UCEA.

NW Net Worth Total assets minus total outside liabilities of an individual or a company.

NYSHESC New York State Higher Education Services Corporation Designated guarantor for New York. See also HESC. (www.hesc.com)

OBRA Omnibus Budget Reconciliation Act When Congress decides to include all budget adjustments for all the Cabinet agencies in a single bill.

OFAC Office of Foreign Assets Control

Part of the US Treasury Department tasked with enforcing economic and trade sanctions against specific countries, terrorists, drug traffickers and persons marketing weapons of mass destruction. (www.treas.gov/offices/enforcement/ofac/)

OGC Office of the General Counsel Serves as principal adviser to the Secretary on all legal matters affecting ED programs and activities. (www.ed.gov/about/offices/list/ogc/index.html?src=oc)

OGSLP Oklahoma Guaranteed Student Loan Program Designated guarantor for Oklahoma. (www.ocap.org)

OHA Office of Hearings and Appeals Provides an independent forum for the fair, impartial, equitable, and timely resolution of disputes involving the U.S. Department of Education and recipients of Federal Education Funds. (http://www.ed-oha.org/)

19

http://www.sec.gov/answers/nrmsir.htm

http://www.studentclearinghouse.org/

http://www.nslds.ed.gov/

http://www.nslp.org/

http://www.hesc.com/

http://www.treas.gov/offices/enforcement/ofac/

http://www.ed.gov/about/offices/list/ogc/index.html?src=oc

http://www.ocap.org/

http://www.ed-oha.org/



OIG Office of Inspector General An organizational unit within each federal department. ED’s OIG promotes the efficiency and integrity of ED’s programs and operations by conducting independent and objective audits, investigations, inspections, and other activities. See also IG. (www.ed.gov/about/offices/list/oig/index.html)

OMB Office of Management and Budget

Provides federal budget and program assistance in overseeing forms, policies, and procedures and evaluating reports, rules, testimony, and proposed legislation. (www.whitehouse.gov/omb/)

OPE Office of Postsecondary Education

The unit within ED that includes Federal Student Aid (FSA) and is responsible for formulating federal postsecondary education policy and administering programs to improve access to quality postsecondary education. (www.ed.gov/about/offices/list/ope/index.html?src=mr)

OPEID Office of Postsecondary Education Identifier An eight digit random number assigned by ED for oversight functions.

OPE-ID OPE Identification Number Identification number used by the U.S. Department of Education's Office of Postsecondary Education (OPE) to identify schools that have Program Participation Agreements (PPA) so that its students are eligible to participate in Federal Student Financial Assistance programs under Title IV regulations.

OSAC Oregon Student Access Commission

Former guaranty agency for Oregon until January 1, 2005. Currently administers state, federal, and privately funded aid programs for Oregon students attending a postsecondary institution. (www.osac.state.or.us)

OSFA Office of Student Financial Assistance Previous name for Federal Student Aid (FSA).

OSFA Florida Department of Education, Office of Student financial Assistance

Designated guarantor for Florida. (www.floridastudentfinancialaid.org)

OWE also known as OWW

Orders of Withholding from Earnings

An order sent to an employer requesting the employer to withhold a portion of the employee’s wages per the administrative wage garnishment.

P Pell Dear Colleague Letter An ED communication that explains and clarifies the Department’s guidance regarding federal regulations and statutes. Also known as a Dear Partner Letter (DPL). (http://ifap.ed.gov/ifap/byYear.jsp?type=dpcletters)

PAC Political Action Committee A committee formed by a special interest group that supports and raises money for a particular candidate or candidates and provides political insight and analysis on various issues.

PBO Performance Based Organization

A designation authorized by Congress that holds an organizational unit within the federal government accountable for producing specific and measurable performance goals that include targets for improved performance and accountability for defined results. In return, the unit is given unusual flexibility in how it can pursue those results. In 1998 the Federal Student Aid (FSA) division of ED was designated as a PBO.

PC Parental Contribution Used in the Expected Family Contribution (EFC) calculations.

PCA Parents’ Contribution from Assets Used in the Expected Family Contributions (EFC) calculations.

PCA Preclaims Assistance Request Previous term for a lender’s Default Aversion Assistance Request. See also Default Aversion Assistance Request (DAAR).

PEPS Postsecondary Education Participants System

An ED management information system of all organizations that have a role in administering student financial aid. This system maintains eligibility, certification, demographic, financial, review, audit, and default rate data about schools, lenders, and guarantors participating in the Title IV programs.

20

http://www.ed.gov/about/offices/list/oig/index.html

http://www.whitehouse.gov/omb/

http://www.ed.gov/about/offices/list/ope/index.html?src=mr

http://www.osac.state.or.us/

http://www.floridastudentfinancialaid.org/




(www.ed.gov/offices/OSFAP/PEPS/index.html)

PESC Postsecondary Electronic Standards Council

A nonprofit umbrella association of colleges and universities, professional and commercial organizations, data, software and service providers, and state and federal government agencies whose mission is to guide the higher education community in leveraging the value of electronic standards for data exchange. (www.pesc.org)

PGI Pell Grant Index A term used until 93-94 to describe the expected family contribution generated by the Central Processing System (CPS) for Pell Grant eligibility.

PGP Pretty Good Privacy A tool for keeping data safe by use of encryption.

PHEAA Pennsylvania Higher Education Assistance Agency

Designated guarantor for Pennsylvania, Delaware and West Virginia. (www.pheaa.org) see also American Education Services (AES). (www.aessuccess.org)

PIN Personal Identification Number

Used to access various ED systems such as the Renewal Free Application for Federal Student Aid (FAFSA), correction FAFSA information, and the National Student Loan Data System (NSLDS). Also used by some participants for borrower authentication purposes during the electronic signature process. See also Electronic Access Code (EAC). (www.pin.ed.gov/PINWebApp/pinindex.jsp)

PJ Professional Judgment Provision of law allowing financial aid administrators to make adjustments to the EFC, cost of attendance, or dependency status when extenuating circumstances exist.

PKI Public Key Infrastructure Used with smart-card technology, it facilitates a secure environment for e-commerce. Related to digital signature.

PL Public Law Acts of Congress relating to the general public are designated as Public Laws.

PLD Plain Language Disclosure A statement, in understandable terms, that must accompany the borrower’s rights and responsibilities, approved by the Secretary, which must be provided to a borrower in conjunction with subsequent loans taken under a previously signed Master Promissory Note (MPN).

PLUS

Parent Loan for Undergraduate Students (Industry adopted terminology for the acronym; however not defined as such in the Higher Education Act or regulation.)

One of the Federal Family Education Loan Programs (FFELP) created as part of the 1980 Reauthorization of the Higher Education Act (HEA). Allows an eligible parent or guardian to borrow on behalf of an undergraduate dependent child.

PN Promissory Note Negotiable instrument wherein one party (the maker or issuer) makes an unconditional promise in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms.

POP Potential Overpayment Project Occurs when two or more schools send a disbursement record for a student and the percentage of the student's Federal Pell Grant eligibility used is greater than 100 percent.

PPA Program Participation Agreement

An agreement that a school and ED must sign, permitting participation in one or more of the Title IV student financial assistance programs.

PT Part Time Can refer to a student’s enrollment status or a person’s employment status.

QA Quality Assurance A process of self-assessment of procedures to simplify regulations and administrative processes for schools awarding Title IV aid.

R2T4 Return of Title IV Funds The federally mandated process by which a school calculates the amount of federal funds to be returned for a

21

http://www.ed.gov/offices/OSFAP/PEPS/index.html

http://www.pesc.org/

http://www.pheaa.org/

http://www.aessuccess.org/

http://www.pin.ed.gov/PINWebApp/pinindex.jsp



Title IV aid recipient who withdraws or who ceases attendance during a payment period or period of enrollment.

RA Registration Authority Related to digital signatures; verifies the identity of the certificate applicant. (See also Certificate Authority.)

REG NEG Regulatory Negotiation A process where the student loan community works with ED to promulgate new or revised regulations. See also neg. reg.

RFMS Recipient Financial Management System

An ED online system that processes Pell Grant payment data, alerts schools to any errors, and makes any needed adjustments to a school’s Pell authorization level on the basis of reports of actual disbursements. Replaced by the Common Origination & Disbursement (COD) system during the 2002-03 academic year.

RFP Request for Proposal A written document from an organization inviting bids from possible suppliers of a product or service, or by a government or other funding agency inviting bids from possible research bodies.

RIHEAA Rhode Island Higher Education Assistance Authority Designated guarantor for Rhode Island. (www.riheaa.org)

RMASFAA Rocky Mountain Association of Student Financial Aid Administrators

The regional financial aid association that includes Colorado, Kansas, Montana, Nebraska, North Dakota, South Dakota, Utah, and Wyoming. (www.rmasfaa.org)

ROTW Renewal FAFSA on the Web

Previously the way a student filed an on-line FAFSA after the first year of filing the FAFSA. Now a student chooses the current year's FAFSA from the menu, and the student's previous year's information is automatically carried over into a new FAFSA. The student only needs to update the parts that have changed from year to year.

SAFRA Student Aid and Fiscal Responsibility Act of 2009

A bill introduced in the U.S. House of Representatives of the 111th U.S. Congress that would expand Federal Pell Grants to a maximum of $5,500 in 2010 and tie increases in Pell Grant maximum values to annual increases in the Consumer Price Index plus 1%. It would also end the practice of federally subsidized private loans, using all federal student loan funding for direct loans. The text of this act was included as a rider on the Reconciliation Act of 2010, which was an amendment to the Patient Protection and Affordable Care Act. SAFRA was included in the health care reconciliation bill that passed on March 21, 2010 by a vote of 220-211 and signed into law on March 30, 2010 by President Obama.

SAIG Student Aid Internet Gateway Enrollment information service offered to postsecondary schools, lenders, third party servicers, guaranty agencies, and software providers and vendors by ED through its website. (www.fsawebenroll.ed.gov/PMEnroll/index.jsp)

SAML Security Assertion Markup Language

Common eXtensible Markup Language (XML) security standard for exchanging authentication and authorization information.

SAP Satisfactory Academic Progress

Level of academic progress required of a student by the Higher Education Act (HEA) in order to receive Title IV aid, including Federal Stafford and PLUS loans. Each school establishes its own standards for evaluating a student’s efforts to achieve an educational goal within a given period of time.

SAP Special Allowance Payment

A percentage of the daily average unpaid principal balance, paid to a lender by ED on an eligible Federal Stafford, PLUS, Supplemental Loans for Students (SLS), or Consolidation loan. The payments act as an incentive for lenders to make education loans by, in effect, making up the difference between the interest rate charged to a Federal Family Education Loan Program (FFELP) borrower and market interest rates. The special allowance rate is set by statutory formula.

22

http://www.riheaa.org/

http://www.rmasfaa.org/

http://www.fsawebenroll.ed.gov/PMEnroll/index.jsp



SAR Also see ESAR Student Aid Report

The paper output record provided to the student by ED’s Central Processing System (CPS) that includes information provided by the student on the Free Application for Federal Student Aid (FAFSA). Also contains student’s expected family contribution (EFC), and the results of federal database matches. The electronic version that is sent to the school is called the Institutional Student Information Record (ISIR).

SAS School Account Statement Provided by a school to a student. Provides transaction detail for student account activity.

SASFAA Southern Association of Student Financial Aid Administrators

The regional financial aid association that includes Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee, and Virginia. (www.sasfaa.org)

SATI Student Allowance Against Total Income Used in the Expected Family Contribution (EFC) calculation.

SAY Scheduled Academic Year The “fixed” academic period, as advertised published in a school’s printed materials that generally begins and ends at the same time each year according to an established schedule.

SC Student Contribution Used in the Expected Family Contribution (EFC) calculation.

SCA Student Contribution from Assets Used in the Expected Family Contribution (EFC) calculation.

SCSLC South Carolina Student Loan Corporation Designated guarantor for South Carolina. (www.scstudentloan.org)

SDNW Student’s Discretionary Net Worth Used in the Expected Family Contribution (EFC) calculation.

SE9W Substantially Equal, at least 9 weeks in length Refers to a definition of a term.

SFA Student Financial Assistance Changed to Federal Student Aid (FSA).

SFAP Student Financial Assistance Programs

Federal programs that support the National Education Goals by enhancing opportunities for postsecondary education. These programs include the Federal Pell Grant Program, the campus-based programs (Federal Perkins Loan, Federal Work-Study (FWS), and Federal Supplemental Educational Opportunity Grant (FSEOG) Programs), the William D. Ford Federal Direct Loan (Direct Loan) Program, the Federal Family Education Loan Program (FFELP), and the Leveraging Educational Assistance Partnership (LEAP) Program.

SGML Standard Generalized Markup Language

An open document definition language mainly in use in the publishing industry that is a system for organizing and tagging elements of a document. It was developed and standardized by the International Organization for Standards (ISO) in 1986.

SIC Student Income Contribution Used in the Expected Family Contribution (EFC) calculation. SID Student Identifier (COD) Student identifier fields in COD – Social Security Number (SSN), Date of Birth (DOB), and student's last name.

SII Single Identifier Initiative An initiative as part of a government-wide effort to adapt to electronic commerce by replacing the OPEID for schools, lenders, guarantors, and servicers with the DUNS system (Data Universal Number System).

SLEAP Supplemental Leveraging Educational Assistance Partnership Program

Part of the Leveraging Education Assistance Partnership Program (LEAP) that is contingent on a state meeting or maintaining state need grants at a certain level.

SLFI Student Loan Fund of Idaho Former Idaho guarantor.

23

http://www.sasfaa.org/

http://www.scstudentloan.org/



SLGFA Student Loan Guarantee Foundation of Arkansas Designated guarantor for Arkansas. (www.slgfa.org)

SLMA Student Loan Marketing Association The original Sallie Mae entity created by Congress in 1972 as a government-sponsored enterprise.

SLND Student Loans of North Dakota Designated guarantor for North Dakota. (www.mystudentloanonline.com)

SLS Supplemental Loans for Students

One of the Federal Family Education Loan Programs (FFELP) that was discontinued as of July 1994. See also Auxiliary Loans to Assist Students (ALAS).

SLSA Student Loan Servicing Alliance

A non-profit, membership organization of student loan servicers and software providers in the Federal Family Education Loan Program (FFELP) and Federal Direct Loan Program (FDLP). (www.slsa.net)

SNT Simplified Needs Test The simplified formula used to calculate need for qualifying applicants that ignores assets, thereby increasing eligibility for financial aid.

SOA Statement of Account An account summary.

SOAP Simple Object Access Protocol

A protocol for exchange of information in a decentralized, distributed environment. It is an eXtensible Markup Language (XML) based protocol that consists of three parts: an envelope that defines a framework for describing what is in a message and how to process it; a set of encoding rules for expressing instances of application – defined data types; and a convention for representing remote procedure calls and responses. Can potentially be used in combination with a variety of other protocols such as Hypertext Transfer Protocol (HTTP).

SPS Student Payment Summary Replaced by Year-to-Date Report. SPT School Participation Team New name for Case Management Team (CMT).

SRA Satisfactory Repayment Arrangement

A specified number of consecutive, on0time, voluntary, reasonable and affordable full monthly payments made by a borrower to the holder of any loan or loans in default.

SRK Student Right-to-Know Act

Passed by Congress November 9, 1990. Requires institutions eligible for Title IV funding to calculate completion or graduation rates of certificate- or degree-seeking, full-time students entering that institution, and to disclose these rates to all students and prospective students. Also requires each institution that participates in any Title IV program and is attended by students receiving athletically-related student aid to submit a report to the Secretary of Education annually.

SSA Social Security Administration Administers the Social Security program. (http://www.ssa.gov/)

SSCR Student Status Confirmation Report

Reporting mechanism through which schools comply with federal regulations by providing current student enrollment information.

SSI Supplemental Security Income A federal income supplement program funded by general tax revenues. (http://www.ssa.gov/ssi/) SSIG State Student Incentive Grant Prior name for Leveraging Education Assistance Partnership (LEAP) grogram. See also LEAP.

SSN Social Security Number 9-digit number assigned to an individual by the Social Security Administration (SSA). It is used as an identifier for tracking a borrower’s loan account(s) and reporting to ED.

SSS Selective Service System

Governed by the Military Selective Service Act, this bureau provides for the common defense by increasing the Armed Services of the U.S., including the reserve components. In order to be eligible for federal student aid, all male students who are U.S. citizens must register with the Selective Service when they reach age 18. (www.sss.gov)

24

http://www.slgfa.org/

http://www.mystudentloanonline.com/

http://www.slsa.net/

http://www.ssa.gov/

http://www.ssa.gov/ssi/

http://www.sss.gov/



STAN Student Authentication Network Services

Developed and implemented by NCS Pearson to allow student loan borrowers to electronically sign their promissory notes using personal identification numbers (PINs).

STI Student’s Total Income Used in the Expected Family Contribution (EFC) calculation. STX State and other Tax Allowance Used in the Expected Family Contribution (EFC) calculation.

SWASFAA Southwest Association of Student financial Aid Administrators

The regional financial aid association that includes: Arkansas, Louisiana, New Mexico, Oklahoma, and Texas. (www.swasfaa.org)

TANF Temporary Assistance for Needy Families

Created by the Welfare Reform Law of 1996, TANF replaced the Aid to Families with Dependent Children and Job Opportunities and Basic Skills Training programs. It provides assistance and work opportunities to needy families.

T-Bill Treasury Bill A note or bill issued by the U.S. Treasury as legal tender for all debts. Used in determining variable interest rates on FFELP loans.

TEACH Grant

Teacher Education Assistance for College and Higher Education Grant

A grant program that provides grants of up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families. In exchange for receiving a TEACH Grant, the student must agree to serve as a full-time teacher for at least four academic years within eight calendar years in a high-need field in a school that serves low-income students. If the student fails to complete this service obligation, all amounts of TEACH Grants received will be converted to a Federal Direct Unsubsidized Stafford Loan.

TERP Total Enrollment Reporting Process

A national Student Clearinghouse process that provides FFELP participants with the option of receiving all of their student enrollment information from a single source.

TFA Two-Factor Authentication Authentication using two independent factors or identification.

TFAP Training for Financial Aid Professionals

ED's training for financial aid professionals. (http://www2.ed.gov/offices/OSFAP/training/index.html)

TG Texas Guaranteed, formerly Texas Guaranteed Student Loan Corporation

Designated guarantor for Texas. (www.tgslc.org)

TI Total Income Used in the Expected Family Contribution (EFC) calculation. TIN Tax Identification Number An identification number used by the Internal Revenue Service (IRS) in the administration of tax laws. TIV Title IV of the HEA Covers the administration of the U. S. federal student financial aid programs.

TIV WAN Title IV Wide Area Network ED’s vehicle for electronically transmitting and receiving data on financial aid programs authorized under Title IV of the Higher Education Act. The Title IV WAN transmits data from ED’s Electronic Data Exchange (EDE).

TIVAS Title IV Additional Servicer

Four companies: American Education Services/Pennsylvania Higher Education Assistance Agency (AES/PHEAA); Great Lakes Education Loan Services; Nelnet, Inc.; and Sallie Mae Corporation that ED entered into performance-based contracts with in June 2009 to provide adequate servicing capacity of a portion of the federal student loan portfolio.

TLFP Teacher Loan Forgiveness Program

A loan forgiveness program intended to encourage individuals to enter and continue in the teaching profession in certain eligible elementary and secondary schools that serve low-income families.

TOP Treasury Offset Program Program whereby ED refers defaulted student loan debts to the Treasury Department for collection by offset against federal income tax refunds and other payables for defaulters. ED can request the Treasury

25

http://www.swasfaa.org/

http://www2.ed.gov/offices/OSFAP/training/index.html

http://www.tgslc.org/



Department to arrange a federal offset to collect any defaulted student loan not being repaid that has been assigned to ED or guaranty agency or on which ED has made a reinsurance payment.

TPC Total Parents’ Contribution Used in the Expected Family Contribution (EFC) calculation.

TPD Totally and Permanently Disabled

The condition of an individual who is unable to work and earn money due to an injury or illness that is expected to continue indefinitely or result in death.

TRA Tax Payer Relief Act

A series of tax changes, passed by Congress that has a significant relationship to education expenses, as well as other areas of tax law. These include such tax relief initiatives as the Military Family Tax Relief Act, the Hope Scholarship Credit, the Lifetime Learning Credit, Student Loan Interest Deductibility, Coverdell Education Savings Accounts, and the expansion of Individual Retirement Accounts to help with education expenses. (www.irs.gov/pub/irs-pdf/p970.pdf)

TSAC Tennessee Student Assistance Corporation Designated guarantor for Tennessee. (www.state.tn.us/tsac)

TSC Total Student’s Contribution Used in the Expected Family Contribution (EFC) calculation. TTP Trusted Third Party A certification authority that verifies the identity of a person transmitting an electronic message.

UCEA University Continuing Education Association

Assists institutions of higher learning and affiliated nonprofit organizations to increase access to higher education through a wide array of educational programs and services to everyone. (www.ucea.org)

UDDI Universal description Discovery and Integration

An initiative that creates a platform-independent, open framework for describing services, discovering businesses, and integrating business services using the Internet.

UHEAA Utah Higher Education Assistance Authority Designated guarantor for Utah. (www.uheaa.org)

UML Unified Modeling Language A third-generation method for specifying, visualizing, and documenting artifacts of an object-oriented system under development.

USAF USA Funds Designated guarantor for Arizona, Guam, Hawaii, Indiana, Kansas, Maryland, Mississippi, Nevada, and Wyoming. (www.usafunds.org)

USC United States Code http://www.uscis.gov/portal/site/uscis

USCIS U.S. Citizenship and Immigration Services

Formerly known as the Immigration and naturalization Service (INS). A federal agency within the Department of Homeland Security (HDS) that is responsible for the administration of immigration and naturalization adjudication functions, the establishment of immigration services policies and priorities, the enforcement of laws that regulate the admission of foreign-born persons to the U.S., and for the administration of various immigration benefits. (www.uscis.gov)

USDE U.S. Department of Education NOTE: Correct acronym is ED. An acronym sometimes used for the Department of Education. Executive branch of the federal government that establishes policy for, administers, and coordinates most federal assistance to education. (www.ed.gov)

VA Department of Veterans Affairs Department of federal government responsible for providing federal benefits to veterans and their dependents. Formerly known as the Veterans Administration. (www.va.gov)

VFA Voluntary Flexible Agreement Authorized by the 1998 reauthorization of the Higher Education Act, the Secretary may enter into an agreement with a guaranty agency that allows for modification (with some exceptions) of the existing Act and subsections, in return for innovative ideas in administering the FFELP.

VSAC Vermont Student Assistance Designated guarantor for Vermont. (www.vsac.org)

26

http://www.irs.gov/pub/irs-pdf/p970.pdf

http://www.state.tn.us/tsac/

http://www.ucea.org/

http://www.uheaa.org/

http://www.usafunds.org/

http://www.uscis.gov/

http://www.ed.gov/

http://www.va.gov/

http://www.vsac.org/


27


Corporation

W3C World Wide Web Consortium Develops interoperable technologies (specifications, guidelines, software, and tools) to lead the World Wide Web to its full potential. It is a forum for information, commerce, communication, and collective understanding.

WAN Wide Area Network

A communications network built to provide communication solutions for organizations or people who need to exchange digital information between two distant places. They also enable an organization to have one integral network between all its departments and offices, even if they are not all in the same building or city, providing communication between the organization and the rest of the world.

WASFAA Western Association of Student Financial Aid Administrators

The regional financial aid association that includes: Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Washington, and Guam, the Commonwealth of the Northern Marianas, Palau, American Samoa, the Federated States of Micronesia, Republic of the Marshall Islands, and any other United States territory or possession in the Pacific. (www.wasfaa.org)

WSDL Web Services Description Language

A way of describing data to make it easier for machines to share data and is a standard, resembling HTML (HyperText Markup Language) for describing information. The World Wide Web Consortium (W3C) standards body develops the standard.

WWW World Wide Web The Internet

XML eXtensible Markup Language An XML-based language used to describe the services a business offers and to provide a way for individuals and other businesses to access those services electronically.

YTD Year-To-Date Period of time, starting from the beginning of the current year, and continuing up to the present day.

http://www.wasfaa.org/

nchelp program regulations committee glossary of initials ... · nchelp program regulations...

Documents