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Annual Percentage Rate (APR)

Annual Percentage Rate or APR is the value of the true cost of your loan. Alternative student loan pricing consists of two components: interest rate and other “fees”. If the APR rate is variable, the rate may change during the life of the loan. When comparing alternative loans, compare the APR’s to determine the best choice for your educational needs.

Central Processing System (CPS)

The agency that processes all U.S. Department of Education Student Financial Aid applications.

Cost of Attendance (COA)

The COA includes tuition and fees, housing, living expenses and miscellaneous personal expenses. COA is determined by the above fees at each institution and reflects student enrollment status.

Eligible Program

A course of study that leads to a degree or certificate and meets the US Department of Education’s requirements for an eligible program. To receive federal financial aid, you must be enrolled in an eligible program.

Estimated Family Contribution (EFC)

EFC is determined by data submitted on a student’s federal aid application.

Financial Aid Package

The total amount of financial aid (federal and non federal) a student receives. The term “package” is also known as a student’s financial aid award. Financial aid administrations use all available resources to “package” each student with the greatest amount of resources available. The amount of federal aid a student receives is sometimes affected by other sources of aid received (scholarships, state aid, etc.)

Interest Capitalization

Interest capitalization is important because it is how often the lender adds interest to the loan principle. The more often interest on a loan is capitalized; the more you will pay because you will pay interest on interest as it compounds.

Home School

The institution from which you will receive your post-secondary certificate or degree.

R2T4 (Return to Title IV)

A process determined by the U.S. Department of Education which institutions must follow when a student does not complete at least 60% of the coursework for the term.

Satisfactory Academic Progress (SAP)

To be entitled to receive federal student aid, you must maintain satisfactory academic progress. Click here to view BHSLR SAP Policy.

Selective Service

Registration is required by law and applies to males who were born on or after January 1, 1960, are at least 18 years old, and are not currently on active duty in the U.S. Armed Forces. Selective Service registration is a requirement to receive federal financial aid.

Student Aid Report (SAR)

The report a student receives from the Central Processor after completing the FAFSA.


The process financial aid administrators must follow (as outlined by the U.S. Department of Education), when verifying data on a student’s FAFSA.

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