Glossary of Terms

Accreditation – Confirmation that a university or academic program maintains a high level of academic standards. If the degree is preparing students for a specific profession, programmatic accreditation may also be required.   

Aggregate Borrowing Limit – The maximum amount of money an individual can owe from all federal student loans received, including undergraduate loans. If the total loan amount you receive over the course of your education reaches the aggregate loan limit, you are not eligible to receive additional loans.

Alternative Loan – These loans are nonfederal loans, made by a lender such as a bank, credit union, state agency, or a school.   

Annual Borrowing Limit – The highest amount that you can borrow from your Federal Direct Loan each academic year, as determined by the federal government. Your school’s Financial Aid office will determine your eligibility up to this annual borrowing limit.   

Assistantship – A type of gift aid that requires the recipient to perform research or teaching duties in exchange for funding (similar to work study). Most assistantships also cover some or all of the recipient’s university fees and university health insurance.   

Capstone Requirement – The final requirement that a master’s degree student must submit in order to demonstrate that they have acquired the knowledge and skills of the discipline as appropriate for a master’s degree holder. The capstone requirement will vary based on the field of study, however some examples are completing an internship, writing a thesis, compiling a portfolio, or creating a new body of artwork and hosting a formal exhibition. 

Commitment Deposit – See “Enrollment Deposit”   

Cost of Attendance (COA) – The Cost of Attendance (COA) is the amount it will cost a student to go to school, and includes estimates for associated costs such as housing, transportation, and school supplies.   

Curriculum Vitae (CV) – The Curriculum Vitae describes in chronological order the path of one’s life including education, employment, awards/fellowships, experiences (for example international), publications.  Unless an organization prescribes a specific page limit, there is no page limit.  

Dependency Status – Graduate and professional students are considered “independent” for the purpose of the FAFSA. Independent students report their own tax information on the FAFSA (and, if married, their spouse’s tax information).   

Direct Unsubsidized Loan – A federal loan that graduate or professional students use to help pay for education expenses. This loan has a set annual borrowing limit, a fixed interest rate, and interest accrues throughout the life of the loan (including while the student is enrolled in school).   

Dissertation – This is the formal document demonstrating a doctoral student’s independent research or scholarship. It is constructed of multiple chapters and can be published as a book or articles in professional journals. Dissertations are presented to the public and defended before a committee of specialists in the field. The completion and successful defense of a dissertation marks the successful completion of a student’s doctoral degree.  

The corresponding document on the master’s level is called a thesis. Due to the shorter time to complete a master’s Program, a thesis is normally shorter than a dissertation. 

Doctoral Degree – Doctoral degrees are conferred (awarded) to students who complete a research doctorate, leading to a PhD, or a professional doctorate, such as a Doctor of Medicine (MD) or Juris Doctor (JD).    

Enrollment Deposit – A payment you make before starting your program, as a way to secure your spot. This payment is deducted from your bill for your first academic term, and in many cases it is non-refundable, even if you decide not to attend the university.   

Fellowship – A type of gift aid that requires the recipient to perform research or teaching duties in exchange for a financial award. Fellowships might require recipients to provide a product or service, but this varies based on the award.    

Free Application for Federal Student Aid (FAFSA) – This is the application for federal student aid. You need to complete the FAFSA form to apply for federal student aid such as federal grants, work-study funds, and loans.    

Gift Aid – A broad term for financial aid that does not have to be repaid, such as scholarships, grants, assistantships, and fellowships.   

Graduate Certificate – A specialized, credit-based graduate program comprised of graduate level coursework. These programs are usually 9-15 credit hours and can be earned after completing a bachelor’s degree. Upon completion of this type of program, the student earns a graduate certificate, not a graduate degree.

Grant – A grant is a monetary gift for people pursuing higher education. It is often based on financial need and does not need to be repaid (unless, for example, you withdraw from school and owe a refund).   

Letter of Intent – See “Personal Statement“   

Master’s Degree – This is a postgraduate degree pursued after a bachelor’s degree. It typically takes between one and three years to complete depending on the program and field of study, and often requires some research component resulting in a thesis or research project as a final requirement.   

Matriculation Deposit – See “Enrollment Deposit”   

Non-Repayable Funds – See “Gift Aid“   

Personal Statement – An essential part of your application package that will give the admissions committee insight into who you are as a person beyond your transcripts and test scores. While they need work and attention, they often also provide an opportunity to explain challenges that a student encountered and that could explain why some lower course grades do not reflect the student’s intellectual capacity.      

Practice-Based Degree – A degree that focuses primarily on the student gaining hands-on experience in their field, culminating in a final project (also called a “capstone”) or internship tailored to the student’s focus area.   

Private Loan – See “Alternative Loan“   

Professional Degree – See “Practice-Based Degree“   

Research-Based Degree – A degree that focuses primarily on the student conducting their own research under the supervision of a mentor, culminating in a dissertation or thesis.   

Resume – A document that summarizes a person’s relevant education, work experience, and skills and that is composed in its listings specific to the organization to which it will be sent. 

Scholarship – Scholarships are gifts that don’t have to be repaid and are designed to help students pay for an undergraduate degree. They can be a one-time gift or are renewable, depending on the scholarship.   

Statement of Purpose – See “Personal Statement“ 

Stipend – An amount of money paid to a student as part of their assistantship or fellowship. Stipends can be paid as one full amount at the start of the semester, or as smaller payments throughout the semester.   

Thesis – A thesis documents a student’s original research/scholarship in a master’s degree program. The completion and acceptance of a thesis marks the successful conclusion of a student’s master’s degree.