Glossary of Terms

Term Definition
Assets Cash in checking and savings accounts, trusts, stocks, bonds, and other securities, real estate (excluding home), income-producing property, business equipment, and business inventory. Considered in determining expected family contribution (EFC).
Bursar Keeper of the Purse (or just Billing)
COA Cost of Attendance
Consumer Information Miami students and families are encouraged to learn information about Miami, financial assistance, student outcomes, tuition and fees, and other information. More about consumer information.
Dependency Status A student's dependency status determines the degree to which the student has access to parent financial resources.
Educational Loans Miami realizes that managing the cost of education is a challenge for most families. In addition to grants, scholarships, and federal work-study funds, several loan options are available.
EFC Expected Family Contribution
Enrollment Status Indication of whether student attends full or part time. Typically students must be enrolled at least half time (and in some cases full time) to qualify for financial aid.
FSAID Federal Student Aid Identification
Federal Stafford Loan Federally-guaranteed, low-interest rate for students. There are two types of Federal Stafford loans: subsidized (need-based) and unsubsidized (non-need-based).
Gift Aid These are funds that do not have to be repaid, unless the student fails to meet certain criteria, such as a service requirement that is specified as a condition of the Gift Aid or not completing the academic term for which the aid was awarded. Gift Aid includes grants, scholarships, remissions, awards, waivers, etc. Gift Aid can be awarded based on many factors, including (but not limited to) financial need, academic excellence, athletic, musical, and/or theatrical talent, affiliation with various groups, and/or career aspirations.
Merit Aid Miami University Scholarships
Net Price The true price students will pay out of pocket
NSLDS National Student Loan Data System
PLUS Loans (Parent Loans for Undergraduate Students) -Federal loans available to parents of dependent undergraduate students to help finance their child's education.
SAP Satisfactory Academic Progress
SAR Student Aid Report
Self Help Self-help is your contribution toward your education using a combination of loans, student employment such as Federal Work-Study, and/or savings.
SEOG Supplemental Education Opportunity Grant - A federal grant program for undergraduate students with exceptional need.
Verification

Verification is a federally mandated process to confirm the accuracy of data provided by selected applicants on the FAFSA. To complete the verification process, the student, their parent(s), or spouse, if applicable, are required to provide certain documents to the school for review. If the documentation the student provides Miami doesn’t match what was reported on the FAFSA, verification can result in changes to the student’s financial aid eligibility, and/or financial aid offers.

If your FAFSA is selected for verification, you will receive an email requesting federal tax return transcripts, a verification worksheet, and other documents. This request will be sent to your Miami email account. Be sure to monitor your Miami email to complete the required verification. You will not receive Federal/State aid until you complete verification. More about verification.

You may request a review of your financial aid offer if your family’s situation has changed after completing the FAFSA. You may be required to complete verification as part of the review. Contact Miami’s One Stop to see if you qualify for a special circumstance review.
Work Study, Federal Find work where you learn—on campus. Student employment is a great opportunity to earn income and work closely with faculty and staff.