Independent Counselor - a private college counselor who is hired by a student or family to assist the student in the college planning process by providing individual service and attention (It is important to note that, unlike college counselors and guidance counselors employed by the students’ high schools, independent counselors do not have access to school records nor are they able to have day-to-day contact with the students and their classmates, teachers, coaches, advisors, etc. in the school setting.)
Institutional Grant - a need-based grant provided by an institution and offered to students whose families are unable to pay the full cost of college (Institutional grants do not have to be repaid.)
Institutional Loan — any student loan administered by the college or university using the institution’s funds as the source of funding (Perkins Loans may also be considered as institutional loans.)
Liberal Arts College - a degree-granting institution where the academic focus is on development of the intellect and instruction in the humanities and sciences, rather than on training for a particular vocational, technical, or professional pursuit
Loan - a financial transaction in which a sum of money is provided, with interest, to a borrower by an institution or individual (The funds borrowed must be repaid, along with the interest that accrues while the funds are kept or used by the borrower.)
Matriculation - the payment of deposits, tuition, fees, and other charges to enroll in a program of studies at an educational institution
Merit-based Grant – a form of gift aid (does not require repayment) based upon your grade point average, academic excellence and extra-curricular involvement with some attention to your financial need.
NACAC (National Association for College Admission Counseling) - a membership organization of over 10,000 professionals who assist students in searching, planning and applying for post-secondary college and career options
Need-Based Grant - financial aid offered, as a part of the financial aid package, when a student and his/her family are unable to pay the full cost of attending an institution
Need-Blind Admission - full consideration of an applicant and his/her application without regard to the individual’s need for financial aid
Notification Date - May, 1…the date by which applicants who are accepted for admission to American colleges and universities are expected to notify the institutions of their intent to enroll and make enrollment deposits