| Achievement test |
This is the old name; the new name is the "SAT II." There are actually several of these tests -- they come in subjects like biology, history, etc. They measure what you learned in high school classes of the same subject. |
| ACT |
This is a standardized test you can substitute fir the SAT when applying to colleges, but it's not as common. |
| Asset |
Stuff you own, like a house, a car or money in the bank. |
| Associate's degree |
The degree you can get from a 2-year college. |
| Bachelor's degree |
The degree you can get from a 4-year college. |
| Class rank |
Most high schools assign students a rank based on grades. Your class rank is relative to other students', so it's about where you stand in comparison to your classmates. |
| College |
A 2- or 4-year school which follows high school and awards associate degrees and/or bachelor's degrees. |
| Early action |
If you want to apply to a college earlier than usual (like in the fall) and get an answer from them earlier that usual, you apply early action. It's generally harder to get in this way. |
| Early decision |
Same as above, except if you're accepted, you have to say right away whether or not you will go to that college. |
| Family Contribution |
They look at the information you send them (income, money in the bank, whatever) and decide what they think you and/or your family can afford to pay towards college. Sometimes it's called the estimated family contribution, or EFC. |
| Financial aid |
The money you need to apply for to help you pay for college; comes in 3 flavors: Grants and Scholarships, Loans, and Work Study. |
| Financial Aid Form (FAF) |
This has been replaced by the Profile. Some, not all, colleges require that you fill out this form for them to give out financial aid. You have to pay to file it, so only do it if your colleges tell you to. |
| Free application for federal student aid (FAFSA) |
This is the form you have to file if you want to get financial aid, especially government aid, and yes, it's free. |
| Grade point average (GPA) |
You average, for grades, on a scale of 0 to 4, where 4 means you got straight A's and 0 means you flunked everything. |
| Graduate school |
Another level of higher education after college; includes law school, medical school, etc. |
| Grant |
Money you don't have to pay back–everyone's favorite type of financial aid, but also the hardest to get. More or less, the same thing as a scholarship. |
| Loans |
One of the most popular ways to pay for college! Yes, you have to pay it back later. The best ones are subsidized by the government, meaning you get a better deal. |
| Open admissions |
When everyone who applies to a college is accepted. |
| Pell grant |
The biggest government grant program; gives grants based on need. They look at stuff like your family's income, how many brothers and sisters you have, etc. The money comes through the colleges. |
| Perkins loan |
A big government loan program. The colleges decide who gets these loans. |
| PLUS loans |
Loans your parents can take out to help pay for college; guaranteed by the government. |
| Profile |
This has replaced the financial aid form and is used by a lot of private colleges in giving out money. Do this one if any of the colleges you're applying to ask you to. |
| PSAT |
Kind of a test-run for the big SAT (the P stands for preliminary). It's also a qualifying exam for some scholarships, so take it. |
| Rolling admissions |
When colleges look at applications as they come in, instead of all at the same time. |
| Student aid report (SAR) |
A form the government sends you after they've looked at your FAFSA which colleges look at when thinking about your financial aid. |
| Scholarships |
Generally the same thing as a grant–money you don't have to pay back. Sometimes there's a contest or some other type of requirement to that goes along with it. |
| SAT |
The main test you have to take for most colleges. Its 2 main parts–math and verbal–are each scored from 200 to 800 and they say it measures aptitude rather than knowledge. Some people disagree. |
| SAT II |
The new name for the Achievement Test. They're subject tests (like science, a language, etc.) which some colleges may ask you to take. |
| Stafford loans |
Another loan, which you get through the bank, or sometimes a college. The government has to approve you for it, since they are guaranteeing it for you. |
| Standardized tests |
Tests that are the same for everybody, such as SATs, Achievements, and Advanced Placements. |
| Supplemental Educational Opportunity Grants (SEOG) |
Grants the government pays for, but colleges decide who to award them to. |
| Test of English as a foreign language (TOEFL) |
If English isn't your first language, you may want to take this test. The name pretty much says what it is. The less time you've been in the US the more it can count for you. |
| Tuition assistance program (TAP) |
A New York state program that makes grants to New York state college students. |
| Undergraduate |
Students enrolled in 4-year colleges within a university, as opposed to students who have finished college and are continuing their education in graduate school. |
| University |
Schools that offer both undergraduate (college) and graduate programs (like law school or medical school) are called universities. |
| Waiting list |
This is in-between being accepted and rejected. If somebody the college accepted doesn't go there, a space opens and they offer it to somebody on the waiting list. |
| Work study |
This is the government program where you can get a job for 10-15 hours a week, on campus, to help pay for college. It is considered part of your financial aid deal. |
