Cost of Attendance (COA) The total cost of attending a college for one year. This includes tuition, room & board, books & supplies, travel, personal expenses, etc.

CSS/Financial Aid PROFILE (CSS Profile) An additional financial aid application used by some colleges to award their own financial aid funds. Demonstrated need: The difference between the cost of attendance and the expected family contribution for each college. Some colleges commit to meeting demonstrated need through financial aid.

Expected Family Contribution (EFC) The amount that a student and the student’s family is expected to contribute to the cost of college based on their income, assets and household situation. You get this number from your FAFSA

Federal Work-Study Through the Federal Work-Study program, students are employed on campus and paid through a combination of federal and school funds. Students are typically expected to work 5-10 hours per week. Eligibility for Federal Work-Study is determined by the financial aid office. In order to utilize their Federal Work-Study, students must apply for and secure a job. Employers are often eager to hire work-study students because the salary is subsidized by federal funds. Work-study jobs can range from shelving books in the library, to assisting a faculty member with research, to tutoring. Work-study income is often expected to be put toward the cost of books, supplies, travel, or personal expenses. If you need to buy plane tickets or textbooks before you start receiving work-study paychecks, it may be necessary to borrow money from your savings or another source.

Free Application for Federal Student Aid (FAFSA) A free application form students submit to apply for federal financial aid. It is required for all students seeking federal student grants, work-study programs and loans and may also qualify you for state-sponsored financial aid.

Grants Gift money from the federal government, state government, and/or a college that the student does not need to pay back. This money is usually paid directly to the college without passing through the student's hands.

Net Price Calculator An online tool provided by colleges to allow potential students to estimate the net price of attendance, which is the difference between the full cost of attendance and any grants and scholarships.

Parental Contribution Amount that a student's parents are expected to pay directly to a college. This amount is calculated using the information in the FAFSA, CSS/Financial Aid PROFILE, and other required financial forms.

Parent Loan Money that is borrowed in the parents’ name to pay for their child’s college. Parent loans need to be paid back with interest. The main parent loan is the federal PLUS loan.

Pell Grant Government grant for low-income students, which ranges from $1 to over $5,500 depending on financial need. Eligibility is based on the FAFSA.

Personal Expenses Any personal expenses that the student will incur, such as purchasing toiletries or seeing a movie. Some school-related fees (for labs, music lessons, etc.) may also be expected to come out of the personal expense budget.

Student Aid Report (SAR) The report sent to the student after the student submits the FAFSA; it tells the student what the expected family contribution (EFC) is.

Student Loan Money that a student borrows to pay for school. Student loans must be repaid with interest. Student loans are offered from the federal government, private lenders, and in some cases, from the school directly. The two primary loan programs are the Federal Direct Loans -- the Unsubsidized and Subsidized loan programs. Federal Direct Subsidized loans are awarded on the basis of financial need and the federal government subsidizes the interest while the student is enrolled full-time and during a grace period. Federal Direct Unsubsidized loans begin accruing interest immediately.

Student Savings Contribution The amount a college expects a student to contribute to their college costs from their savings and investments.  Student savings and investments must be reported on the FAFSA, CSS/Financial Aid PROFILE, and other financial documents that the student submits to the college. A student savings contribution is typically a percentage of a student's total savings and investments.

Summer Work Contribution The amount of money a student is expected to earn during the summer to be used for college expenses for the upcoming year. The summer work contribution is often used to pay for travel costs to campus or to pay for personal expenses during the academic year. Students should plan to work during the summer before freshman year to meet this earnings requirement. The expected summer work contribution may increase slightly from year to year. Students can start earning this money in advance of the summer.

Definitions provided by Questbridge.org