Site Coordinator Resource Manual October 29 November 2, 2012
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- Navigate this page:
- Merit-Based Financial Aid
- Michigan Campus Compact (MCC)
- Michigan College Access Network (MCAN )
- Michigan College Access Portal (MichiganCAP)
- National Merit® Scholarship Program
- Need-Based Financial Aid
- Parent Contribution (PC)
- Perkins Loan
- Permanent Resident
- PLUS Loan (Parent Loans for Undergraduate Students)
- Postsecondary
- Student Aid Report (SAR)
- Student Asset Contribution (SAC)
- Student Loan Interest Deduction
- Trade/Vocational school
- Tuition Incentive Program (TIP)
- Undergraduate
- College Glossary Resources
- A special thanks to the 2012 Michigan College Application Week Implementation Committee
Loan Deferment: When payments of a loan are suspended for the borrower until a later point in time. For example, some federal loans are paid to students while they are in college, but they do not have to begin repaying their loans, or their loans are deferred, until they are no longer in college. Major: An area of concentration in a particular field of study. Usually students specialize in their majors during their junior and senior years at college. Merit-Based Financial Aid: Financial aid based on a student’s talents, performance, academic merit and/or other select characteristics. Depending on the college, merit-based scholarships may be awarded for academics, athletics, extracurricular involvement, art, theatre, music, journalism and more. Residency, future job plans, alumni ties and other factors also can be criteria for awarding some merit-based financial aid. Merit-based financial aid also is available from private sources such as community foundations, service organizations and others. Michigan Campus Compact (MCC): A coalition of college and university presidents committed to promoting civic engagement on campuses and in students’ academic lives. It currently has 42 member campuses and is part of a national Campus Compact coalition of nearly 1,100 college and university presidents, representing six million students. To find out more about MCC, visit www.micampuscompact.org. Michigan College Access Network (MCAN ): A nonprofit committed to dramatically increasing the college participation and completion rate in Michigan, particularly among low-income students, first-generation students, and students of color. MCAN supports local college access networks through grants and technical assistance. To find out more about MCAN, visit www.micollegeaccess.org. Michigan College Access Portal (MichiganCAP): Michigan’s free web-based college access portal to simplify the process of transitioning from high school to college and career. A one-stop website for students to plan, apply, and pay for college. www.michigancap.org Michigan College Application Week: The goal of College Application Week is to provide every graduating high school senior the opportunity to apply to college. The initiative will take place in October of each year. To learn more visit www.micollegeaccess.org/events/college-application-week. National Merit® Scholarship Program: A scholarship program based mostly on scores from the PSAT/NMSQT.®Each year, National Merit students receive scholarships ranging from several hundred dollars to the full cost of attendance. See also PSAT/NMSQT.® Need-Based Financial Aid: Financial aid based on student/family financial circumstances. Residency, future job plans, alumni ties and other factors also can be criteria for awarding some need-based grants and scholarships. Open Admissions: Typically means that the admissions process is NOT competitive. In other words, students who meet the minimum requirements outlined by the institution will likely be accepted to the school; sometimes also referred to as “open enrollment.” Parent Contribution (PC): Contribution expected from the income and assets of the parent(s) and/or stepparent in the student’s household. Pell Grant: A need-based federal grant given to undergraduate students based on the student’s ExpectedFamilyContribution (EFC), which must be below a specified threshold; can be used at eligible colleges around the country. Perkins Loan: The Federal Perkins Loan Program provides low-interest loans to help needy students finance the costs of postsecondary education (up to $5500 per year). Institutional financial aid administrators at participating institutions have substantial flexibility in determining the amount of Perkins loans to award to students who are enrolled or accepted for enrollment, but priority is given to those students with “exceptional need” (those with the lowest ExpectedFamilyContributions) and those who are also federal PellGrantrecipients. Permanent Resident: A U.S. resident who is the holder of a Permanent Resident Card (I-551). Glossary cont. PLAN®: A guidance resource administered by ACT, Inc. that helps students measure their academic development, explore career/training options and make plans for the remaining years of high school and post-graduation years. Typically, PLAN is taken in the fall of a student's sophomore year. PLUS Loan (Parent Loans for Undergraduate Students): Loans available to parents who are credit-worthy. Student must be a dependent undergraduate student enrolled at least half-time for parent PLUS borrowing.
Postsecondary: Education and training beyond high school. Registration: The process of choosing and signing up for college classes. Most colleges have a defined registration process, which determines when students can register (typically seniors are first, followed by juniors, etc.). Class registration is on a first–come, first–serve basis, so students typically try to register as soon as possible in order to secure the classes they want at the times they prefer. SAT®: A standardized test and college entrance exam administered by the College Board that measures a student's critical reading, mathematics and writing abilities. An essay is also included. For more information, go to www.collegeboard.com. Selective Admissions: Typically means that the admissions process is competitive. In other words, students who apply to institutions with a selective admissions process are compared to other applicants, and only those judged to be the best fit or most qualified (based on criteria set by the school) are accepted to the institution. Selective admissions processes often require students to write essays, describe after–school and community activities in which they have participated, and list awards received. Institutions that have selective admissions processes often require higher academic achievement (like higher grades and test scores) Student Aid Report (SAR): Special report that is processed and sent to a student after the FAFSA is filed, showing the student’s EFC and the data elements provided on the FAFSA that were used to calculate theEFC.
Student Asset Contribution (SAC): Contribution from any assets (cash, checking, savings, investments, trust fund, etc.) in the student’s name (and/or Social Security number). Student Income Contribution (SIC): Contribution expected from student income. Glossary cont. Student Loan Interest Deduction: Tax deduction for interest paid on student loans exclusively used to cover qualified higher education expenses The Student Loan Interest Deduction can reduce taxable income up to $2,500 for interest paid during a given tax year on a student loan taken out specifically for college costs. The deduction is phased out for taxpayers with modified adjusted gross income (AGI) between $60,000 and $75,000 (single filers) and between $120,000 and $150,000 (married filing jointly). The student for whom the loan was taken out must be enrolled at least half time in a degree program to qualify for this deduction. Trade/Vocational school: Trade schools or vocational schools offer programs that focus on providing graduates with the job-specific skills needed for their chosen career path. Rather than requiring students to study a diverse curriculum made up of different subjects, trade schools emphasize only those fields that are relevant to the student’s future profession. Transfer: Students who have completed college coursework at another institution can often transfer their course credits to the new institution to which they plan to apply. Students who started college but stopped short of earning a degree, or students who completed college classes while in high school should be sure to speak with an admissions counselor about transferring their credits. Tuition Incentive Program (TIP): The Tuition Incentive Program (TIP) is an incentive program that encourages eligible students to complete high school by providing tuition assistance for the first two years of college and beyond. To meet the financial eligibility requirement, a student must have (or have had) Medicaid coverage for 24 months within a 36–consecutive–month period as identified by the Michigan Department of Human Services (DHS). Undergraduate: A college student who has not yet earned an associates or Bachelor’s degree. Work Study Program: A type of state or federal aid in which a student is given a job either on or off campus and paid a wage. The amount students earn is based on the wage and the number of hours worked. College Glossary Resources: Michigan Campus Compact-College Positive Volunteers Toolkit: http://www.micampuscompact.org/cpvtoolkit.aspx Indiana College Costs: http://www.indianacollegecosts.org/understand-the-financial-aid-process/glossary-of-terms Iowa College Access Network: http://www.icansucceed.org/en/common_resources/glossary/ College Foundation of West Virginia: https://secure.cfwv.com/images/wv/pdfs/Admissions101Web.pdf College Application Week is an initiative of the Michigan College Access Network (MCAN). As the leader in the state’s college access movement, MCAN’s mission is to dramatically increase Michigan’s college participation and completion rates, particularly among low-income students, first-generation students, and students of color. In order to build and sustain a vibrant economy and strong communities based on a highly educated population, MCAN works to ensure everyone in Michigan has the opportunity to access and succeed in postsecondary education. For more information, visit www.micollegeaccess.org. A special thanks to the 2012 Michigan College Application Week Implementation Committee: ACT Midwest Region Educational Services – Bay City Central High School – DELEG King*Chavez* Parks Initiative – Michigan Association for College Admission Counseling – Michigan Association of College Registrars & Admissions Officers – Michigan Association of Secondary School Principals – Michigan College Access Network Board of Directors – Michigan College Access Programs and Personnel – Michigan Community College Association – Michigan College Foundation – Michigan Department of Education, College Access & Outreach Unit – Michigan Department of Education, Office of Education Improvement & Innovation – Michigan Parent Teacher Association – Michigan State Board of Education – Michigan School Counselor Association – Michigan State Senate – Michigan State University College Advising Corps – Presidents Council, State Universities of Michigan – The Kresge Foundation – University of Michigan College Advising Corps – University of Michigan-Dearborn. MCAN would like to thank the College Foundation of North Carolina and the College Foundation of West Virginia for their help in creating this Resource Guide, of which sections have been adapted from their respective guides. 1 According to data from Georgetown University’s Center on Education and the Workforce. 2 According to data from the College Board’s 2010 “Education Pays” report. 3 http://www.collegeboard.com/prod_downloads/collegeed/collegeEd-create-college-going-culture.pdf Directory: attachments -> article article -> Guide to Ancient Egypt By Stuart Wier First appeared as article -> Manifesto! Version: 16 December 2008 a green New Deal for Europe Europe needs a new direction article -> How can acp help? article -> Marina Economou article -> Examples of Best Practice Child Performance and Activities Licensing by Local Authorities in England February 2015 article -> WorkBook (How to Become Successful?) Ex. 1 Brainstorming article -> ~~ Draft ~~ Minutes of the County Committee Meeting Held at County Hall on Wednesday 27th January 2010 Present Download 430.54 Kb. Share with your friends:
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