Financial Aid Glossary

Award Package:
A list of the financial aid a student has been awarded from the various programs (federal, state and campus).
Budget:
An estimate of what it will cost to attend college. A budget includes tuition,fees, room and board, transportation, books and supplies and personal expenses.
Campus-Based Funds:
Any federal financial aid that is awarded by the college (e.g., Federal Perkins Loan, Nursing Student Loan, Federal Supplemental Educational Opportunity Grant and Federal Work-Study).
Free Application for Federal Student Aid (FAFSA):
The need analysis application that students use to report family income and assets. The FAFSA is transmitted to an approved processor. The college uses the analysis sent by the processor to determine a student's financial aid eligibility. Electronic application is made at www.fafsa.ed.gov.
Family Contribution:
A determination, by an approved federal formula, of how much a student and the family can contribute toward educational costs. The family contribution is reported to the college as part of the analysis of the student's aid application (FAFSA).
Financial Aid Eligibility:
The difference between the budget and the family contribution. The amount of money a student is eligible to receive to assist in meeting the costs of education.
Full-Time:
12 credit hours or more per semester for undergraduate students.
Grant:
Gift aid that does not have to be repaid. A grant is based on financial need.
Institutional Funds:
Any financial aid that is D'Youville College funds and is awarded by the college.
Loan:
A type of financial aid that must be repaid, usually at low interest rates and after the student has left school. For subsidized educational loans, the federal government pays the interest while the student is attending at least half time. For unsubsidized loans, the student is responsible for the interest even while in college.
Part-Time:
Less than 12 credit hours per semester for undergraduate students. Generally, students must be enrolled at least six credit hours per semester to be eligible for financial assistance (Exception: New York state TAP requires 12 credit hour enrollment).
Priority Deadline/Due Date:
New students must file the FAFSA to be received by the processor by March 15. Continuing students must file the FAFSA to be received by the processor by April 15. If a student's FAFSA is received by the processor by these dates, the applications considered to be on time. The on-time application will be given priority in the distribution of campus-based and institutional funds, as available. The Web site address is www.fafsa.ed.gov.
Scholarship:
A type of financial aid usually awarded for outstanding ability (e.g. academic scholarship). Financial need is usually not a criterion. A scholarship does not have to be repaid.
Title IV Aid:
Federal student aid programs regulated by the U.S. Department of Education under Title IV, Pell Grant, SEOG, Perkins Loan, Direct Subsidized and Unsubsidized Loans and PLUS Loans.

Helpful Links

Get to Know Us

  • Net Price Calculator

    Estimate cost and aid through the D'Youville net price calculator.
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  • FinAid Online

    After you file your FAFSA, use FinAid Online to manage your costs and aid package.
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