Glossary beginning with A

a
Academic Year

The period during which school is in session, consisting of at least 30 weeks of instructional time. The school year typically runs from the beginning of September through the end of May at most colleges and universities.

AP

Advance Placement; a College Board program that includes offering tests to high school students as an opportunity to earn college-level course credit.

Accrual Date

The accrual date is the date on which interest charges on an educational loan begin to accrue.

ACT American College Test

The ACT is one of the two national standardized college entrance examinations used in the US. The other is the SAT. Most universities require either the ACT or the SAT as part of an application for admission.

Adjusted Available Income

In the Federal Methodology, the remaining income after the allowances (taxes and a basic living allowance) have been subtracted.

Amortization

Amortization is the process of gradually repaying a loan over an extended period of time through periodic installments of principal and interest.

Anticipated Aid

Awards the student has "Accepted" on myUNT. Anticipated Aid does NOT include Work-Study or Parent (PLUS) Loans that have been denied due to adverse credit history by the lender. Parent (PLUS) Loans will count toward Anticipated Aid if the Parent (PLUS) Loan borrower does not have an adverse credit history and SFAS has received a credit approval by the lender. If your Anticipated Aid does not cover your Tuition and Fee balance, payment for the difference must be made to your student account to prevent your classes from being dropped. Payments can be made online at MyUNT.

Appeal

There are situations that may lead to a students' desire to file an appeal with the Financial Aid Office. Student appeals must be provided in writing. SFAS has specific appeal processes in place for appeals on Satisfactory Academic Progress, Special Circumstances, Dependency Overrides and Scholarships.

Asset

An asset is an item of value, such as a family's home, business, and farm equity, real estate, stocks, bonds, mutual funds, cash, certificates of deposit (CDs), bank accounts, trust funds, and their property and investments.

Asset Protection Allowance

The asset protection allowance is a portion of the student's parents' assets that are not included in the calculation of the parent contribution, as calculated by the Federal Methodology need analysis formula. The asset protection allowance increases with the age of the parents.

Associate Degree

The degree granted by two-year colleges.

Award Period

The academic semester for which financial aid is requested (or received).

Award Year

The academic year is defined as a set number of semesters as determined by the institution.